Maine voters would decide whether to fund housing programs with $60 million in bonds

The state could issue up to $60 million in bonds under the Governor’s direction. The bond proceeds would fund the housing programs listed in the bill. Voters must approve the bond question for this part to take effect. The question would go to voters at the statewide election in November after the bill’s passage. If voters approve, this part would take effect 30 days after the Governor proclaims the result.

The Department of Economic and Community Development would provide grants and low-interest factory loans to eligible housing makers. A business must be located in Maine, have 500 or fewer employees, and make manufactured homes or other housing the department considers innovative. Factory loans would support building or expanding a factory for that housing. The bond schedule designates $30 million for this program, but the bonds require voter approval. Grants could cover operating expenses and homes made and installed in Maine. A higher grant amount applies to affordable, energy-efficient homes. A manufacturer committing at least 10% of production to deed-restricted affordable housing could receive a $50,000 bonus. The bill gives no separate start date for grants or loans. This program part takes effect only if voters approve the bonds.

The Maine State Housing Authority would receive bond funds for home accessibility and repair and for low-income weatherization grants. The weatherization grants would be for eligible low-income households. The bill designates funds for a home accessibility and repair program but does not give that program’s applicant rules here. The bond schedule designates $25 million for a home accessibility and repair program and $2.5 million for weatherization, subject to voter approval. Weatherization applicants must meet the income limits for the federal Weatherization Assistance Program and show that the home is a single-family house or manufactured home occupied by an eligible low-income household. A readiness project must be expected to lead to weatherization. An approved applicant could receive up to $20,000. This weatherization program part takes effect only if voters approve the bonds. The bill gives no separate start date for grants.

The Maine State Housing Authority would run a pilot giving grants to nonprofit developers to repair older homes. Grants would go to nonprofit housing developers to repair existing single-family or multifamily homes in Maine. The pilot would cover 15 homes, with grants of up to $80,000 per home, and the bonds require voter approval. A repaired home must be available for purchase by a first-time buyer who will live there and whose income is no more than 120% of area median income. Buyers who sell within 36 months must return part of any profit to the nonprofit developer; after 36 months, they keep all profit. This pilot part takes effect only if voters approve the bonds. The bill gives no separate start date for grants.