Regional Homebuilding Innovation Initiative (RHII) in the Prairie Provinces - 6. After you apply

We will assess your application

We may contact you for details on your submission or additional information, where deemed necessary for assessment. Although PrairiesCan may engage organizations directly on outstanding questions or issues, applicants are advised to submit a complete and thorough application.

If your project is approved, you will be provided the option to enter into a contribution agreement with PrairiesCan. This agreement outlines the conditions of the payments towards the project.  You will be expected to sign a contribution agreement within 30 days of being notified and have confirmed all sources of funding prior to this date (e.g., bank statements, terms sheets, letters of funding, other government funding).

Funding disbursement

PrairiesCan provides contributions under RHII.

PrairiesCan provides repayable funding in periodic reimbursements, based on submitted claims. These reimbursements will be released to you for the approved portion of eligible projects costs that have been incurred and paid. Reimbursements will be based on the approved portion (in other words 50%) of eligible projects costs that have been incurred and paid.

Repayable contributions are normally repaid (at 0% interest) over 5 years in monthly installments beginning 1 year after the project end date.

You will need to plan project cash flows based on the timing of the claims and the period to process the reimbursement. We provide an orientation to this process for successful applicants.

You are expected to have secured all non-PrairiesCan requested project financing (at least 50%) before applying.

Projects may vary in duration, typically ranging from a few months to 2 years. All successful applicants will sign a standard Contribution Agreement with PrairiesCan. The Agreement outlines the obligations of the funding recipient, including the submission of claims information and periodic progress reports (minimum 2 per year).

All project activities must be completed by March 31, 2026, to be eligible for reimbursement.

You will be expected to track and report on key project activities and deliverables.

Reporting requirements

All contribution agreements jointly signed between PrairiesCan and a successful applicant include a requirement for periodic reports in order to demonstrate progress in implementing the project and achieving the economic results.

These progress reports are required at least twice a year to support claims for reimbursement of project costs.

Recipients are also required to provide annual financial statements to PrairiesCan throughout project implementation.

All project activities must be completed by March 31, 2026. You will be expected to track and report on key project activities and deliverables up to the final reporting date.

Repayment terms for repayable funding

After project completion, there is a 1-year grace period, followed by equal monthly repayments over 5 years. Other terms include:

• Interest-free.
• No security/collateral will be taken.
• There is no penalty for early repayment.