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Pilot Program Helps Midcoast Homeowners Finance Secondary Housing Unit

2 months ago in Local

Photo: 560 WGAN Newsradio

Three Midcoast towns are helping homeowners get financial help to add a secondary living space on their property.

Bath, Brunswick, and Rockland are joining a pilot program that offers homeowners up to $10,000 in assistance to build an additional dwelling unit.

The program is funded by a state grant and is intended to help address housing needs in the Midcoast region.

Funded by a State grant, the new ADU Boost Pilot Program is a partnership of the Midcoast Council of Governments (MCOG), Bangor Savings Bank, and the three participating communities.

Incentive grant funds are limited and will be awarded on a first-come, first-served basis.

Eligible households must finance at least $50,000 in project costs with a home equity loan or construction loan with Bangor Savings Bank and meet their financing criteria.

To learn more about these and other program requirements, contact Bangor Savings Bank, the lender partnering with the Midcoast Council of Governments on this Program.

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