Statement from President Alfond on Affordable Housing Bond

AUGUSTA—Senate President Justin Alfond of Portland announced the following statement in response to the governor’s release of bonds that will build more affordable houses for Mainers.

Earlier today, Governor LePage notified Maine Housing that he will allow for the issuance of bonds that supports the authority’s effort to create and rehabilitate affordable housing projects for Maine families.

“We have seen that in Maine there has been a severe shortage of affordable housing; and, too many Maine families have been on housing wait lists for years,” said Senate President Alfond. “Releasing these bond projects will create more jobs in the construction industry and provide much needed housing for the people of Maine. Simply put, it is good business and will make a difference in the lives of hundreds of Maine families.”

MaineHousing could issue up to $120 million in bonding projects over the next couple of years, including the financing of $40 million for affordable rental housing projects. Bonding for projects like these often leverage additional investment dollars and allow a 4% tax credit in return for their investment.

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