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ADU properties All Portland homes 30% ...................... 25% 20% Source: Martin John Brown, Oregon Department of Environmental Quality b b b b b b b <25 25-34 35-44 45-54 55-64 65-74 75+ <- $200,000 C— $150,000-$199,999 0— $100,000-$149,999 0— $75,000-$99,999 C— $50,000-$74,999 0— $35,000-$49,999 0— $25,000-$34,999 0— $15,000-$24,999 O— 510,000414,999 0- 5 $10,000 0- 0% 5% 10% Source: UC Berkeley Center for Community Innovation ?0% 25% 30% 35% AF-JF1RFSSINCI FINA►NCINr. RORRIFRS Innovative funding tools that have appeared in the market or have been piloted by state and local governments to expand access to ADU ownership include: ADU-SPECIFIC LOANS: A nonprofit lender in the Pacific Northwest, Craft3, offers an ADU- specific loan product in Portland. Homeowners can borrow up to $130,000 for 10 years, with a lower interest rate available to low- or moderate -income homeowners. This loan is only available for borrowers who live, or house family members on the property." PUBLIC LOAN AND GRANT PROGRAMS: Cities, counties, and states have piloted loan and grant programs for ADU construction. Loan programs have often been forgivable or zero- interest loans that can be repaid when homeowners sell the property. California's Housing Finance Agency (CalHFA) offers All Portland homes ADU properties grants of up to $40,000 for lower -income homeowners, via lending partners throughout the state. The grant can cover predevelopment and/or closing costs for other financing sources. CalHFA grants are limited to owner - occupied properties.14 FEE WAIVERS: Waiving certain development fees for ADUs—such as impact fees for stormwater, sewer, and parks —can meaningfully reduce the total cost of developing an ADU. As mentioned above, the City of Portland waives approximately $20,000 in impact fees for ADUs that will become long-term rentals or non -rented housing for family and friends.