An amount of $50,000 will be granted to the property owners in Vermont to turn single-family homes into housing for multiple families.
$50,000 grants for residents in Vermont. (Photo: MARCA)
$50,000 For Property Owners in Vermont
Owning a house is one of the problems that millions of American families face today. It is one of the negative impacts of the pandemic that led to homelessness. In the country, the rural states have the highest rate of unsheltered homelessness.
In a published article in The U.S. Sun, Vermont will grant $50,000 to property owners to turn single-family homes into housing for multiple families. This is under Vermont’s Accessory Dwelling Unit (ADU), which went into effect to solve the housing crisis.
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How to Claim $50,000 Grant?
According to Vermont Daily Chronicle, here are the ways to claim the $50,000 grant:
- The grant is meant for units on owner-occupied properties, meaning the builder must live onsite.
- Beneficiaries must match at least 20% of the grant’s funds for the building.
- Funds can be used to facilitate construction including structural, roofing, siding, windows, doors, electrical, plumbing, and HVAC work.
- The state also requires that once the unit is built, the grantee must offer it for rent at or below fair market value as determined by the U.S. Department of Housing and Urban Development.
Furthermore, the department determines the fair market rents nationwide and publishes data on its official website annually.
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