SAN DIEGO (KUSI) – Poway Mayor Steve Vaus says he will present an idea for low-cost housing in Poway to the City Council Tuesday night.
Vaus’ program is called HOMES or Home On My Extra Space.
The proposal says the City of Poway pays construction costs for ADU or granny flat on participating homeowner’s private property.
Homeowner allows the unit to be an affordable-housing rental for a specific term, expected to be in the range of 10-12 years.
A non-profit, such as Community Housing Works or similar organization, acts as property manager for the ADU – screening tenants, collecting rent, etc.
Rental proceeds are divided among the three parties allowing the City to recoup its investment, the housing organization to cover its costs, and the homeowner to see some revenue.
At the end of the term the homeowner gains full control/ownership of the unit without additional cost or obligation.
Vaus said he plans to create a subcommittee to study the plan. That plan would ultimately require Council approval.