Acquisition of Shares in Housing Cooperatives Closed
The Berlin state program 'Acquisition of Shares in Housing Cooperatives' supported low-income households in purchasing business shares in housing cooperatives. The aim was to facilitate access to affordable housing, especially for first-time occupants of new cooperative apartments. Funding was provided in the form of an interest-free loan.
Who is funded
The program targeted low-income households with primary residence in Berlin who possess a housing eligibility certificate and wish to acquire shares in a housing cooperative. The goal was to enable these households to access affordable housing in the Berlin region and to strengthen the cooperative sector.
What is funded
Funding was provided for the acquisition of shares in a housing cooperative to occupy an apartment. The focus was on the first-time occupancy of a new cooperative apartment, but the acquisition of shares by tenant households in existing buildings after their acquisition by a cooperative was also eligible. The funding served to cover the costs for the acquisition of these shares or project-related participations that entitle the holder to occupy an apartment.
Type and Scope of Funding
Support was provided in the form of an interest-free loan with a term of up to 20 years. The maximum loan amount was 50,000 euros per household and could include a partial waiver of 25 percent of the disbursed amount, provided that the entitlement to a housing eligibility certificate continued to exist.
Conditions and Requirements
Specific legal and operational conditions applied to the funding, including the possession of a valid housing eligibility certificate, compliance with income limits, and the necessity to occupy the apartment within a certain period. The program was state aid-free as it was granted to natural persons for the purpose of occupying self-used housing.
Application Procedure
The loan application had to be submitted to Investitionsbank Berlin (IBB). After the conclusion of the loan agreement, the funding could be disbursed within 24 months, with disbursement only occurring after the fulfillment of the conditions and requirements contained in the funding commitment. A proof of use had to be submitted to the IBB within six months of the loan disbursement.
Legal Basis
The funding program was based on specific administrative regulations and laws of the State of Berlin on social housing promotion. These documents defined the legal framework and the funding conditions.
Funding Overview
Maximum Amount:
50.000 €
Open Until:
31.08.2023
Award Channel:
Demand Driven Scheme
Region:
Berlin (Germany)
Sectors:
Construction and Building Materials, Service Sector
Funding Stages:
Other
Funding Provider
Program Level: Regional
Funding Body: Senate Department for Urban Development, Building and Housing
Managed By: Investitionsbank Berlin (IBB)
Website: Investitionsbank Berlin