Auburn has multiple financing programs for ADUs and Homes
Insert finance programs
Please see the attachements below:
ADU Development program cliff notes:
- Auburn has a program who's goal is to create 15 new housing units (<800 SF) over 2 years (ADUs)
- property owners at 120% AMI or under qualify. public water and sewer needed.
- Must be rented to qualified <80% AMI tenants for 5 years
- FORGIVABLE LOAN OF UP TO 15% OF CONSTRUCTION COSTS OR $30,000
HOME Development Program cliff notes:
- FORGIVABLE LOAN OF UP TO $150,000 per unit
- Must be new, year-round rental unit and meet HUD property standards
- <80% AMI tenants for 20 years