Liccardo co-sponsors bill to make it easier to finance ADUs

"U.S. Rep. Sam Liccardo, who represents Palo Alto and much of the Mid-Peninsula, has introduced a bill with bipartisan support that would help homeowners finance the construction of accessory dwelling units on their property, a move intended to ease the housing shortage. The bill, co-sponsored by Rep. Andrew Garbarino, R-N.Y., would create a government-backed loan program for homeowners who want to build ADUs."

"ADUs, small backyard houses, can be rented to provide the homeowner with an additional source of income. It could be a solution for Palo Alto's "house rich, cash poor" residents who can't afford to build an ADU without a loan. Liccardo, a former mayor of San Jose who was elected last fall to replace the retiring Anna Eshoo in Congress, said there's a strong appetite amongst homeowners to build ADUs."

A bipartisan congressional bill would establish a government-backed loan program to help homeowners finance construction of accessory dwelling units (ADUs). ADUs are small backyard houses that can be rented to generate additional income for homeowners. The loans aim to assist homeowners who are asset-rich but cash-poor and cannot afford ADU construction without financing. Liccardo cites successful permit surges when red tape was cut and notes that financing remains a major barrier. National coverage highlights a nearly four-million-home shortage and widespread housing-cost burdens. The bill has garnered endorsements from multiple House members and industry groups.

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