Be it a commercial building or one that houses a noble cause of serving the community, building renovation is an equally important yet financially daunting endeavour. It is an essential aspect of property management and ownership. However, it can be a significant financial burden for non-profit organizations that operate on a tight budget.
In contrast to commercial organizations that may have significant financial resources available for renovation projects, non-profit organizations often have limited funds available from very few income sources. As such, it is crucial that these organizations allocate their funds to justifiable causes and endeavours that align with their underlying mission and purpose.
As a professional commercial construction company, we understand the hassle better than anyone else. We want to bring your attention to a grant program that can help alleviate this financial burden – the Community Facility Enhancement Program (CFEP).
CFEP is a grant program offered by the Government of Alberta to provide financial assistance to non-profit organizations that have community facilities. The program offers matching funds for eligible renovation expenses, making it easier for non-profit organizations to afford building renovation projects.
This blog post will provide you with valuable insights and information on how to take advantage of the CFEP program while renovating your non-profit making facilities that seek to improve the community’s quality of life.
What Is CFEP?
CFEP is one of the many provincial grants that seek to improve the condition of buildings in Edmonton. However, this program seeks to assist specifically public-use community facilities such as cultural, recreational and sport community facilities. The aid specifically assists building owners in acquiring, purchasing, constructing, repairing, renovating or expanding these facilities.
Primarily, the aim of the grant is to stimulate economic growth in the province by supporting the creation of public-use structures.
The eligibility criteria for the grant may vary slightly from province to province. Generally, the requirements may be summed up as follows:
- To be eligible for CFEP funding in Alberta, applicants must be a registered non-profit organization that operates a community facility in the province.
- The organization must have an Alberta-based address.
- The organization must be in good standing with the Alberta Corporate Registry.
- Applicants must provide matching funds for their renovation project.
- The facility must be available for and be primarily used for public benefits, such as for cultural, recreational, or educational purposes.
- The project must relate to the renovation, rehabilitation, or repair of community-use public facilities.
Evidently, the eligibility criteria are extremely technical. Therefore, we encourage non-profit organizations based in Edmonton to review the specific eligibility criteria and requirements for the grant.
As your construction and renovation partner, BelVan Construction’s team works with organizations to assess their eligibility for the grant and ensure that their project meets all the necessary requirements. We can also help organizations develop a detailed project plan and budget to ensure that they’re able to take full benefit of the grant funding they receive.
Grant Amount And Funding Process
CFEP has two funding streams – Small Stream Funding and Large Stream Funding. Here’s some additional information on these streams:
Small Stream Funding is designed for smaller-scale renovation projects and is available to all eligible non-profit organizations. The maximum amount of funding available through this stream is $125,000 per project.
Large Stream Funding is designed for larger-scale renovation projects and is available to eligible non-profit organizations with a demonstrated need for significant renovations. The maximum amount of funding available through this stream is $250,001 to $1 million per project.
The next application intake deadlines in 2023 for Small Stream Funding are May 15 and September 15. The deadline for Large Stream Funding is June 15.
For detailed information regarding the most suitable funding options for your renovation project, please refer to the grant guidelines.
With a reputable renovation service provider by your side, an often daunting and complex application process will become much more seamless. Following these steps will help ensure a smooth and successful application:
- Partner up WIth BelVan Construction to ensure that your renovation project will meet the requirements.
- Together, we will determine your eligibility in light of the grant guidelines.
- Our team will then gather all the prerequisites for application including, project cost estimates, scope of work, and any other necessary documentation.
- Once the application is complete, it will be submitted for review.
- Upon approval, we will begin work on the project, ensuring that all work is completed within the required timeline and meets the strict guidelines of the program.
- Lastly we will ensure that the completed project meets the requirements and that the grant funds are fully utilized and the project is a success.
About BelVan Construction
BelVan Construction is a top-rated commercial construction company in Edmonton with extensive experience managing construction and renovation projects of various sizes. Learn more about us here.
Need high-end commercial renovation services? Contact us now.