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    Long Beach launches Backyard Builder Program to create new housing opportunities

    By Nataly Tavidian,

    4 days ago

    https://img.particlenews.com/image.php?url=3qFMeJ_0vfil3Zs00

    The city of Long Beach is looking to tackle the housing crisis through its new pilot Backyard Builders Program, which encourages residents to construct new housing units on their property with the purpose of renting them.

    The program is meant to incentivize Long Beach homeowners to create an affordable rental unit on the property by providing up to 10 residents receive no-interest loan financing. Applications for the pilot program are now being accepted and will continue to be until Nov. 30, 2024.

    Now, the program will be funded with $200,000 from the city’s General Fund. The loans provided to 10 homeowners will be 30-year loans with 0% interest, totaling up to $250,000.

    The loans will be used to design and build housing units on their property as a means to “address the affordable housing shortage in Long Beach,” the city shared in a press release.

    “This new Backyard Builders Program shows our unwavering commitment to providing our community with more affordable housing options and financial flexibility,” Mayor Rex Richardson said in the release. “This program will also directly support Long Beach property owners and sends the message that we are in favor of building new housing — quite literally — in our backyards.”

    The program is being facilitated by the City’s Community Development Department and the Long Beach Housing Authority. Homeowners who are provided the loans are required to rent at a reasonable rate to income-qualified tenants in order to maintain the 0% interest rate.

    The city is hosting several virtual and in-person meetings starting next month to provide more information on the program. Those meetings will be on Oct. 19 and 24. For more information, visit the city’s website on the program here .

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    Guest
    1d ago
    I agree, the parking should be addressed. However, this is not logical at all by offering to only 10 homeowners. Seriously?? How are 10 people going to address the housing issue? And those 10 people will probably rent to family in order to help their family out due to high rents. What is wrong with the City of Long Beach and their thought process?? People making decisions are not on location it seems, mentally or physically, to make qualified decisions when it comes to the budget and and how things should be allocated
    Sil(peace)
    3d ago
    Dumb, law passed they should also make sure to include mandatory parking be added.
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