$2 million grant could ready accessory dwelling units for rentals: Island could see multiple units within two years
Thanks to a partnership between Shelter Island Town and the nonprofit Community Development Corporation of Long Island, up to $2 million could be spent over a two-year period in grants to property owners to create affordable accessory dwelling units (ADUs) on their properties.
Chairwoman Elizabeth Hanley of the Community Housing Board announced the grant Feb. 9.
Community Development Corporation (CDC) President and Chief Executive Officer Gwen O’Shea submitted the application and the Island is one of the municipalities that will benefit from a $2 million grant.
“You really have been the driving force,” Supervisor Gerry Siller said to Ms. Hanley.
Grants of up to $125,000 are available to qualifying low and moderate income homeowners to bring the properties up to local and State codes and retrofit them to accommodate renters. Those who qualify for the grants will either add an ADU to their property, or make capital improvements to an existing ADU.
The CDC will work with the Town to coordinate the program, which will be managed by the CDC.
Property owners who want to participate in the program would have to apply for grants administered by the CDC, Ms. Hanley said.
Homeowners who opt to take advantage of a grant have to agree to provide the rental at an affordable rate set by the federal department of Housing and Urban Development. Rentals would be available to those who meet income levels set for Suffolk County. Occupants must be annually certified to ensure they continue to qualify for an affordable rental, Ms. Hanley said.
In addition, it’s possible a homeowner could apply for grant money from State, County and/or local municipalities if they need to updgrade their septic systems to state-of-the-art nitrogen-reducing systems.