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Revere Trust to post ADU loan application within two weeks; $50,000 round to support up to five projects
Summary
The Trust plans to post an ADU loan application in the coming 7–14 days for a $50,000 round that would support up to five projects as fully forgivable five‑year loans; owners must occupy properties and meet affordability rules tied to HUD AMI definitions.
The City of Revere Affordable Housing Trust Fund Board previewed an accessory dwelling unit (ADU) loan program application and a plan to publish the form online within 7–14 days.
Chair Joe Grama described the program terms as a fully forgivable five‑year loan with forgiveness earned in increments if recipients meet program requirements. Applicants must own the property, reside there…
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