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Ulster County discusses ADU revolving loan fund to expand Plus1EDU program and housing action fund
Summary
County staff briefed the legislature on creating a revolving loan fund to provide gap financing for accessory dwelling units, supplementing state Plus1EDU grants and amendments to the Housing Action Fund.
Ulster County legislators heard an extended briefing on March 18 about local efforts to increase accessory dwelling unit (ADU) production, including the Plus1EDU program and a proposed revolving loan fund to provide gap financing for homeowners.
Background and why it matters: County staff said the Plus1EDU program awarded grants to homeowners for construction or rehabilitation of ADUs and that the county received additional rounds of state funding: round 2 for about $5,000,000 to build roughly 52 units and another approximately $3,000,000 for round 3 targeted at nonparticipating municipalities. Staff reported the state’s $125,000 per-project assumption often proves insufficient once site-specific costs, septic work and other constraints are considered, and actual costs can range from about…
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