Resolve, To Create A Pilot Program To Assist Nonprofit Housing Developers In Rehabilitating Existing Aging Housing Stock For First-Time Home Buyers
Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
Summary
The resolve directs the Maine State Housing Authority to set up a pilot that gives nonprofit developers up to $80,000 per unit to renovate aging single‑family or multifamily homes. The renovated units must be sold to first‑time homebuyers whose income is at most 120% of area median income, and buyers agree to share any resale profit for up to three years. The program is funded with $1.2 million for the 2025‑26 fiscal year.
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