Accessory Dwelling Unit Building
Eligibility: City Government
The Accessory Dwelling Unit grant program will provide grants up to $50,000 for Black, Indigenous, and People of Color to build attached accessory dwelling units to increase their wealth and benefit the local housing market. Adding an Accessory Dwelling Unit (ADU) to a property can provide numerous benefits for low-income homeowners and the local housing market. These benefits include increased rental income, increased property value, more affordable housing options, reduced displacement, environmental benefits, and diversifying the housing stock.
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Concerned that I don’t see new homeownership here. The proviso seems to be conducive to that AND the Disparities Workgroup Study highly recommends it. It’s widely known and accepted that new homeownership is “THE” best solution to promote asset building and redress wealth disparities. What am I missing?