LOCAL IMPROVEMENT CHARGE (LIC) FINANCING PILOT PROGRAM DESIGN FOR RESIDENTIAL BUILDINGS IN

Keep it Simple: For participants, the program must have a clear and simple application process, and for contractors and trades-people the program must be easy to access, and allow them to introduce their clients to the LIC financing as a sales and marketing tool. [...] Monitoring and Evaluation Framework The Monitoring and Evaluation (M&E) of LIC financing pilot programs is an essential step in gathering the results and benefits of the programs and communicating these to the relevant stakeholders. [...] CA 13 CHEERIO Working Group: LIC Financing Pilot Program Design 1.1 LIC FINANCING IN ONTARIO In October 2012 Ontario amended its LIC financing regulations to allow municipalities to undertake works on private properties and to enter into a voluntary contract with the property owner to recuperate the capital costs through the imposition of a special charge added to the property’s tax assessment. [...] In the event of a default, the municipality can establish a priority lien, as with unpaid taxes, and seize the property to recuperate the portion of the LIC financing repayments that are in arrears through the sale of the property. [...] By leveraging the relationship with auditors, training them thoroughly on the program so they can support the property owners, and leveraging the data they collect for program tracking and quality control, LIC financing program administrators can assure that the auditor delivers a value to the property owner that exceeds the costs.