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Town announces ADU loan assistance: ten $100,000 no‑interest loans to support affordable units
Summary
Town Board Liaison David Lys told the Montauk Citizens’ Advisory Committee the Town opened an ADU loan assistance program that will offer ten no‑interest loans of $100,000 each to support creation or conversion of accessory dwelling units.
David Lys, Town Board liaison to the Montauk Citizens’ Advisory Committee, announced the Town has opened an ADU loan assistance program "providing 10 no interest loans of $100,000 each" to aid affordable housing efforts. The announcement was made during the committee’s July 6 meeting.
Lys said the loans are part of broader affordable-housing initiatives and did not provide additional eligibility details at the meeting. Committee members did not vote on the program; Lys presented it as a Town Board action. The committee asked for follow-up materials and eligibility criteria at a future meeting.
