CalHFA expects to provide granny flat grant to 2,500 homeowners and funding is depleted

Published on

calfha adu grant 25K

STATEWIDE – California Housing Finance Agency (CalHFA) announced, Monday, that the Accessory Dwelling Unit (ADU) Grant Program will be fully committed by December 9, 2022. The program is expected to help 2,500 homeowners add an accessory dwelling unit to their property, in part, to help relieve the housing crisis in California.

The $100 million allocated for the ADU Grant program provided up to $40,000 grants to   reimburse homeowners for pre-development costs associated with the construction of the ADU.

CalHFA will pause the program on December 9, 2022, or when all funds have been committed, whichever comes first.

 





 

“This program has added additional affordable housing units in California, created income opportunities for homeowners and worked in conjunction with the lending community to provide additional financing types, expanded underwriting guidelines and escrow management services,” states the CalHFA announcement.

RELATED: CA Forgivable Equity Builder helps with 10% down payment on home

After the passage of Senate Bills 9 and 10, which legalized duplexes, ADUs, and small multifamily properties on lots previously zoned exclusively for single-family homes, CalHFA began offering the grant. 

The new laws came with controversy for some cities and homeowners.

SB 9 allows property owners to have two units on a parcel zoned for single-family housing — creating a duplex — and to split a residential parcel into two pieces. If the property owner used both provisions, something some experts believe is unlikely, a space that once hosted a single home could eventually hold four.

SB10 allows for cities to zone a parcel for up to 10 residential units if it’s located in a “transit-rich area” – a fixed-route bus line.  

According to Los Angeles Conservancy the laws “pose a one-size-fits-all solution and a blunt, statewide fix that would outstrip local authority and planning.”

Proponents of the bills have pointed to rising housing prices across California, arguing that the legislation increases supply and therefore helps to address the issue.

spot_img

Latest articles

Homeless count in Victorville down 57% from 2024

VICTORVILLE – The City of Victorville announced that the number of unsheltered individuals in...

45,000 SoCal grocery workers authorize a strike against Kroger and Albertsons

CALIFORNIA – The United Food and Commercial Workers (UFCW) announced June 11 that members...

Over 65 “No Kings” protests in SoCal this Saturday in response to Trump’s $100 Million Parade

CALIFORNIA – “No Kings” protest event organizers announced that millions of people in more...

Mail thieves arrested thanks to Apple Valley resident’s quick reporting 

APPLE VALLEY – The San Bernardino County Sheriff’s Department (SBCSD) announced that on June...

More like this

Real estate platform launches in California offering homebuyers 2% down payment assistance

CALIFORNIA – Zown, a tech-powered real estate platform announced June 2 its U.S. debut...

New report lists Victorville as the most affordable city in CA to purchase a home

CALIFORNIA – WalletHub released a new report, May 20, and found that Victorville is...

New report reveals CA home sales have slowed as median price reaches record high of $910,160

CALIFORNIA – The California Association of Realtors (CAR) released a report and found that...