“There isn’t a place to gather. We can’t walk down the street to run into old friends,” relates Rayceen Pendarvis of Washington, DC. The safe, social networks of communities are being fractured due to rising rents. Individuals on fixed-income and older-adults are at great risk of homelessness; and our working populations are traveling longer distances to their place of employment. The housing shortage has resulted in a homelessness crisis in the Bay Area, where there are over 5,600 sheltered and un-sheltered individuals living on the streets of Oakland.
LOW-INTEREST HOME PRESERVATION LOAN PROGRAM
Minimum: $15,000. Maximum $150,000.
Interest Rate: 30 year, simple interest 1% per year.
Up to $75,000 of the maximum loan amount that a homeowner qualifies for may be used for the creation of a J/ADU.
Distribution: “first-come, first-served”