Accessory Dwelling Unit (ADU) Revolving Loan Fund

County of Ulster

Buyer seeks to establish a revolving loan fund to stimulate affordable ADU development. The program will offer zero or low-interest loans from $5,000 to $75,000 to qualified homeowners who agree to rent ADUs affordably. Buyer requires a partnership between a non-profit housing organization and financial institution to administer the program. The program aims to increase affordable housing options in Ulster County through existing properties.

• 6/3/2025 - Last day to submit written inquiries
• 6/13/2025 - Proposal Due Date
• 6/16/2025 - Selection Committee evaluates Proposals
• 6/23/2025 - Oral Interviews by Invited Companies
• 6/30/2025 - Notice of Intent to Award
• 8/18/2025 - Contract Start Date

• Partnership between non-profit housing-focused organization and financial institution
• Experience in administering construction loans

• Design program guidelines and eligibility criteria for ADU loan fund
• Develop comprehensive application process with user-friendly forms
• Establish underwriting standards and loan processing procedures
• Create tenant eligibility verification system for affordable units
• Manage loan disbursement and compliance monitoring
• Process loan applications and conduct financial underwriting
• Verify tenant income and ensure affordability compliance
• Market the program and create outreach materials
• Establish tiered interest rate structure for affordability
• Track program performance metrics and provide reporting