Rep. Sam Liccardo introduced a bipartisan bill to help homeowners finance the construction of accessory dwelling units (ADUs) to alleviate the housing shortage. Co-sponsored by Rep. Andrew Garbarino, the bill proposes a government-backed loan program for homeowners to build ADUs. These units can provide rental income, particularly for residents struggling financially. The legislation has garnered support from 16 House members and industry groups, aiming to reduce financing risk for private lenders by offering government backstop for defaults.
"With access to capital, we can empower homeowners to become home providers for thousands of renters in every metropolitan area."
"As mayor of San Jose, we proved that cutting the red tape made reluctant homeowners jump at the chance, and we saw nearly 1,000 permit applications in a year."
Collection
[
|
...
]