Affordable Housing Initiative for Maine Islands
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.
Full-time island residents using the unit as their primary residence
Does not limit eligibility on these criteria