The Index-Linked Mortgage (ILM) Co-operative Housing Program

The Index-Linked Mortgage (ILM) Co-operative Housing Program supports the operation of non-profit co-operatives that were developed to provide housing for moderate income members. Co-op members purchase equity shares in the project and collectively become owners and managers of the building.

Subsidies may be available to low-income members. People who want to become tenants in an existing project must purchase a share in the co-op.

• Applicants will be selected in accordance with the terms of approved project operating agreements.
• A specified portion of the residents in each project will be eligible to receive assistance under the Rent Supplement Program or Complementary Assistance Program.