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Trust board discusses draft ADU forgivable‑loan program to spur accessory dwelling construction
Summary
The Revere Affordable Housing Trust Fund Board reviewed a draft program to offer forgivable loans to encourage accessory dwelling units (ADUs). Board members asked staff to refine the draft and return for approval at a later meeting.
Board members discussed a draft accessory dwelling unit (ADU) loan program at the July 2025 meeting that would provide forgivable loans to help homeowners construct ADUs and create rental inventory. The proposal in the draft materials presented to the board describes fully forgivable loans to support ADU construction; the draft text referenced an amount shown in the document as "$510,000 loans, fully forgivable loans".
Staff said the draft borrows from a model used in Wellfleet and adapts program contours for Revere’s newly amended ADU ordinance. The board discussed eligibility, affordability requirements and a proposal that units be rented at or below 100% of area median income for a five‑year affordability period in order for loans to be forgiven. Members noted construction costs and permitting burdens—such as sprinkler requirements and preconstruction expenses—that can deter ADU development and said the program should help cover upfront costs.
No vote was taken. Gravalese asked board members to review the draft and provide feedback; staff said a more detailed application and loan agreement will be circulated before the next meeting and that the board may vote to finalize the program in coming months. Board members discussed marketing the program widely via media, social channels and the building department so homeowners applying for permits will know the assistance is available.
The board did not commit funds at the meeting and will revisit the proposal after editing the draft program documents.
