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.
Chebeague, Cliff, Frenchboro, Great Cranberry, Great Diamond, Isle au Haut, Islesboro, Islesford, Long, Matinicus, Monhegan, North Haven, Peaks, Swans, and Vinalhaven
Affordable Housing Initiative for Maine Islands eligible activities are:
For more information on program eligibility, priorities, and how to apply, download and review the Program Guide.
Ty Heaward, Multifamily Development Loan Officer
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EQUAL HOUSING OPPORTUNITY