Oakland launches low interest loan program to convert un-permitted dwellings
OAKLAND (CBS SF/BCN) – The City of Oakland on Friday announced the launching of a low interest loan program to help convert un-permitted accessory dwellings into legal units.
The Accessory Dwelling Unit Loan Program will provide financing and technical assistance to low-income homeowners to convert an existing un-permitted secondary unit into a legal Accessory Dwelling Unit or Junior Accessory Dwelling Unit, city officials said.
The program is designed to help ensure units that were developed outside of the required permitting process are safe, legal and continue to provide flexible housing options for tenants and family members, officials said.
Participants can receive a deferred payment loan of up to $100,000 and guidance with the design, bidding, permitting and construction process.
To be eligible, a property must be owner-occupied and a single-family residence that is in an Oakland "Opportunity Zone" in West Oakland along the Interstate Highway 880 corridor.
Some properties in East Oakland will also be eligible.
To qualify, household income must be at or below 80% of the area median for Alameda County, which currently is $87,700 for a two-person household and $109,000 for a four-person household.
For more information, visit the city of Oakland's website.
