Maine State Housing Authority
Maine

MaineHousing is making zero interest forgivable loan funding available from the proceeds of taxable/tax-exempt bonds issued by MaineHousing pursuant to the Maine Energy, Housing and Economic Recovery Program, 30-A M.R.S.A. c. 201, sub-c. 7-A (Part E Bonds) to finance the creation or substantial rehabilitation of affordable multi-family rental housing units located on Maine’s island communities. Rental housing units must remain as rental housing for a minimum of 45 years and must be leased to full-time island residents as their primary residence.

Funding Source
Dedicated funding stream - Other
Program Status
Active
Website
https://mainehousing.org/programs-services/housing-development/developmentdetails/affordable-housing-initiative-for-maine-islands
Contact
Ty Heaward Maine State Housing Authority [email protected] 207-626-4610
How Provided?
Development loans
Program Type
Capital resources
Income Eligibility Threshold
120% AMI or less
Duration
Affordability period is 45 years
Info Source
NLIHC internet research
Last Updated
7/19/23 16:15
Other Eligibility Requirements

Full-time island residents using the unit as their primary residence

Income Eligibility Threshold Detail

120% AMI or less, unless existing tenant

Eligibility Limitations

Does not limit eligibility on these criteria