The MIF program is only available for land located within the following municipalities in rural PEI, and only if the lots will be serviced by the municipality’s central water and/or wastewater system:
| Towns | Rural Municipalities |
|---|---|
| Alberton | Abram-Village |
| Borden-Carleton | Crapaud |
| Kensington | Hunter River |
| North Rustico | Kinkora |
| O’Leary | Miscouche |
| Souris | Morell |
| Three Rivers | Mount Stewart |
| Tignish | Murray Harbour |
| Resort Municipality | |
| St. Peters Bay | |
| Tyne Valley | |
| Victoria | |
| Wellington |
To be eligible for MIF funding, the land must be eligible for subdivision under provincial regulations and/or municipal official plan and bylaws.
Land within an agricultural zone is not eligible for funding under the MIF.
To learn the designation of your land, determine whether your land is located in a municipality with an official land use plan. The following eligible municipalities have planning authority, and can be contacted directly with questions:
| Towns | Rural Municipalities |
|---|---|
| Alberton | Abram-Village |
| Borden-Carleton | Kinkora |
| Kensington | Miscouche |
| North Rustico | Resort Municipality |
| O’Leary | Victoria |
| Souris | Wellington |
| Three Rivers | |
| Tignish |
If your land is not in an eligible municipality with planning authority, contact provincial planning, under the PEI Department of Housing, Land and Communities:
Provincial Planning
J. Elmer Blanchard Building
31 Gordon Drive
Phone: 902-368-5590
landsdivision@gov.pe.ca
Yes. Subdivisions of more than 20 lots are eligible, but the MIF will only subsidize up to 20 lots, with a maximum contribution of $300,000 . Any additional lots would not be eligible for subsidy under the MIF program.
However, if you receive MIF approval, the entire project (all lots) may be eligible for financing under the Subdivision Development Financing Program.
No. The program subsidizes the extension of existing municipal central water or wastewater services.
To be eligible for the MIF, the land must be serviced by a public road constructed to provincial government standards.
No. Infrastructure construction that has already begun is not eligible.
MIF applications can be submitted at any time throughout the year. At each meeting of the MIF committee, the committee will review any applications received by the last day of the previous month.
Federation of PEI Municipalities staff will first review the application to confirm project eligibility. Then, the five-person MIF committee will approve or decline eligible projects, using the MIF Guidelines and Criteria and a project scoresheet as guidelines.
Within 30 days of receiving approval for MIF funding.
A developer may not sell more than one MIF-subsidized lot to an individual buyer, group of buyers, or commonly controlled entity.
A developer can receive MIF funding for lots they plan to build on for the purposes of selling. However, a developer cannot keep more than 10% of subsidized lots for their own development purposes. The Province of PEI has the option to buy up to 25% of the developed lots (at a price equal to 120% of the developer’s cost) for provincial initiatives.
The program will run until all funding ($11.25 million) has been allocated.
The 90% refers to the total project costs. However, any MIF grant amount would be applied to the principal of the loan.
No. MIF approval is required to be eligible for the Subdivision Development Financing Program. However, Finance PEI will complete its own due diligence to determine if MIF recipients qualify for a loan under this program. Find details on that program and its requirements here.
Yes. MIF funding can be combined with other funding sources. However, some programs may have restrictions on stacking. It’s important to check the guidelines of the other funding program to confirm whether they allow stacking with MIF.
In-kind contributions may include non-cash assets or services that support the project. Examples include:
- Land not intended for development or sale, such as:
- Parkland
- Greenspace
- Trails
- Active transportation corridors
- Donated materials or equipment
- Volunteer labor
- Professional services provided at no cost (e.g., design, planning, legal)
All in-kind contributions must be clearly documented and directly related to the project’s objectives.
No. Garage space is not considered part of the livable area of a dwelling. Therefore, it is not counted toward the 1,400 square foot maximum for eligibility.
MIF funding will be disbursed once the following conditions have been met:
- A restrictive covenant has been registered at the applicable Land Registry Office for all lots benefiting from MIF funding. This covenant must prohibit the construction of any dwelling exceeding 1,400 square feet, and proof of registration must be provided.
- The development is located on a public road built to provincial government standards, and the Department of Transportation and Infrastructure (DTI) has approved the road.
- There is substantial completion of infrastructure, as confirmed by a professional engineer licensed in Prince Edward Island.
The Province of Prince Edward Island has up to 60 days from the effective date of the Recipient Fund Agreement to determine whether it will exercise the option to purchase up to 25% of the lots in your development.