ADU Boost Pilot Program
.png?width=1024)
Bath homeowners now have a new opportunity to expand their housing options with the launch of the ADU Boost Pilot Program, a partnership between the Midcoast Council of Governments (MCOG), Bangor Savings Bank, and local pilot communities. The program provides financial tools and guidance for eligible single-family property owners interested in building Accessory Dwelling Units (ADUs)—self-contained living spaces on their property, whether they have a mortgage or own their home outright, without refinancing. Through ADU Boost, participating homeowners may qualify for fixed-rate mortgage financing from Bangor Savings Bank, an Equal Housing Lender, paired with an incentive grant equivalent to 10% of the qualified costs—up to $10,000. The program also administers support from start to finish, including cost and timeline reviews as well as project inspections conducted by a third-party specialist, OnTarget Systems. Am I eligible? Eligible households must finance at least $50,000 in project costs, meet Bangor Savings Bank’s financing criteria, and have household incomes at or below 150% of the area median income at the time of reservation. ADU’s must also meet structural guidelines. Rental units created through the program must be offered as long-term housing, not short-term rentals. 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. Bangor Savings Program Contact Susan Wixom Tuck Hood | Upcoming Info Session Tuesday, September 16 5:00 PM - 6:00 PM Auditorium City Hall Related Documents |