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 as their primary residence, obtain all building and zoning permits, and not be delinquent on taxes or assessments. Properties approved under the program must be rented at an affordability level tied to 100% of area median income under HUD guidance; Grama estimated that an affordability ceiling for a one‑bedroom ADU would be around $2,200 per month in the current year and said the city will certify the maximum rate annually.

Grama walked trustees through application fields, including project type (basement conversion, garage conversion, detached unit, attached, or interior retrofit), estimated start and completion dates, contractor estimates, and required uploads. He said monitoring will include annual owner certification of occupancy and rent compliance and that vacancy of more than 30 days without just cause could trigger repayment obligations. The initial round will make $50,000 available and approve up to five projects on a first‑come, first‑served basis; final application wording will be circulated to trustees before publication.

Trust staff will update the form to add an AMI link and clarify eligibility language before the public launch.