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V O L . X X V N O. I I I F E B R UA R Y 4 , 2 0 1 9 18 While there are various financing options to develop affordable housing, Cullen notes that it's a low-margin undertaking, and sees Portland's new development impact fees as a hurdle. "Every dollar more a city or a town requires is one more dollar of public money — either subsidy, tax credits or tax-exempt financing — we have to ask for," she adds. Another bottleneck in the system is the long waiting list for so-called Section 8 federal hous- ing vouchers — 2,300 in Portland alone out of 17,000 statewide, accord- ing to Portland Housing Authority Executive Director Mark B. Adelson, who says the wait time can be two to three years. "In most cases they have housing but they're just paying an extraordinary amount on rent," Adelson says. ere are also around 100 house- holds with vouchers who can't find landlords to accept them, prompting the organization to post a "Landlords Wanted" plea on its website. "It's still an owner's market, but if it's loosening up we want them to consider us and par- ticipate in the program," he adds. Suburban migration On the policy side, affordable housing is a priority, with Gov. Janet Mills in January signing an order to release the first $500,000 of a long-stalled $15 mil- lion senior housing bond. A week later, the Portland City Council approved a requirement that hotel developers build low-income housing or pay a fee, irking some in the industry. "I don't think it's fair that the council is singling out hotels to solve a larger problem, one which I'm not convinced hotels are creating," says Jim Brady of Fathom Cos. "is will drive investment elsewhere." at's already happening to an extent in communities such as Westbrook and as far afield as Windham, which are see- ing a rise in population — and economic development — as Portland gets more expensive for both families and young professionals. Take Katie Shorey, who commutes to her job at People's United Bank on Fore Street from Westbrook, which takes about half an hour most mornings. "I don't think you'd find one-bedroom condos for under $250,000 in Portland, but you can get a house with two to three bedrooms for that in Westbrook," says Shorey, who lives in a three- bedroom house with her boyfriend and their golden retriever, Harley. Back in Bayside, Christine Jimenez hopes to stay at Avesta's Pearl Place for a long time, saying, "I'm not going anywhere." R e n e e C o r d e s , M a i n e b i z s e n i o r w r i t e r, c a n b e r e a c h e d a t r c o r d e s @ m a i n e b i z . b i z a n d @ r s c o r d e s » C O N T I N U E D F RO M P R E V I O U S PA G E Nominate a family-owned business for the (Self-nominations are welcome & encouraged!) Nominate a business at www.fambusiness.org AWARDS ARE PRESENTED IN 7 CATEGORIES: Renys Large Business (25 + employees) Chalmers Insurance Group Customer Service Holiday Inn By The Bay First Generation People's United Bank Innovation & Technology Shep Lee Community Service Varney Agency Environmental Leadership Maddy Corson Small Business (less than 25 employees) Nominate a family-owned buiness for the (Self-nominations are welcome & encouraged! ) Nominate a business at www.fambusiness.org 6 F O C U S Every dollar more a city or a town requires is one more dollar of public money — either subsidy, tax credits or tax- exempt financing—we have to ask for. — Amy Cullen Szanton Co. P H O T O / T I M G R E E N WAY Katie Shorey, a marketing officer at People's United Bank in Portland, lives in Westbrook and commutes to her job in Portland. She is among the young professionals that have sought more abundant housing options in Portland's suburbs.

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