Mainebiz

V O L . X X V I I N O. X X V N OV E M B E R 1 5 , 2 0 2 1 6 Maine to receive $1.9B for infrastructure Maine will receive nearly $1.9 bil- lion in funding for roads, broadband, clean water and electric-vehicle charging stations under the $1 tril- lion infrastructure bill passed by Congress. e legislation is expected to be signed into law by President Joe Biden. Key provisions that will benefit Maine include $1.3 billion for federal-aid highway apportioned programs over five years to construct, rebuild, and maintain roads and highways.e bill authorizes $225 million to Maine for bridge con- struction, maintenance and repair. Another $100 million is earmarked for high-speed internet coverage, helping provide access to the at least 42,000 Mainers who currently lack it. About $254 million would be used for water system upgrades. Another $19 million would be used to expand the electric vehicle charging network in the state. N O T E W O R T H Y S T A T E W I D E U.S. Sens. Susan Collins and Angus King announced that the Maine De- partment of Health and Human Ser- vices received $576,824 to improve the health of Maine's mothers and children. The funding was awarded through the U.S. Department of Health and Human Services' Maternal and Child Health Services Program and will support efforts to lower maternal mortality, reduce infant mortality and enhance the delivery of maternal care. The U.S. Environmental Protection Agency awarded $30,000 to the Maine Indoor Air Quality Council and $29,977 to Cumberland County Soil and Water as part of 13 Healthy Com- munities Grants provided to strategi- cally address the environmental and public health issues in New England communities. The National Oceanic and Atmospheric Administration's Sea Grant American Lobster Initiative awarded a total of $662,405 to three Maine orga- nizations to support the long-term health and resiliency of the state's lobster industry. The University of Maine received $399,036; the Wells National Estuarine Research Reserve, $134,489; and the Maine Department of Marine Resources, in partnership with the Maine Center for Coastal Fisheries, $128,880. Portland homes selling faster than US rate Owners of single-family houses and condos in Portland sold them after an average of 3.39 years from purchase, according to a third- quarter report released by ATTOM Data Solutions, a California-based real estate tracking company. at tenure is the third-shortest among metro markets in the country, B U S I N E S S M A I N E Business news from around the state B R I E F After generations of private ownership, two Portland wharves expected to change hands B y J e s s i c a H a l l P o r t l a n d — Two historic wharves on the Portland water- front, Custom House Wharf and Union Wharf, are in the midst of pending sales that if completed would end generations of family ownership. Custom House Wharf, which has been owned by the same family for more than 200 years, has a letter of intent to be sold to a Maine group that plans to keep it as a piece of working waterfront, said James Benoit, a broker with Benchmark Real Estate. Terms of the deal were not disclosed, but the property was listed on the New England Commercial Property Exchange for $11 million. The sale is expected to close around Jan. 1, 2022, Benoit said. Meanwhile, Union Wharf, built in 1793 and the oldest wharf in Portland, also faces a pending sale, according to the Dunham Group. Terms and timing of that deal were not disclosed. Union Wharf, which includes 4.3 acres on Commercial Street, went on the market earlier this year. The wharf has been owned by the Poole family for five generations. The Custom House Wharf, which has been on the market since June 2018, has had three different letters of intent for a deal, including the current one, Benoit said. "Different people have come and gone. This time we're hoping to get to the finish line, but it's never done until the papers are signed," said Kenneth McGowan, whose family has owned the wharf since the mid-1800s. Making the decision to sell was difficult, he added. "It's been a family thing. My kids were no longer interested in it. It was time to sell. It's been up and down coming to the decision. We have shareholders and most of the sharehold- ers were eager to do this," McGowan said. The buyers are limited to what changes they can make by strict working waterfront zoning rules. "They like the waterfront, the charm of it. They want to keep it and improve it," McGowan said. Benoit said Union Wharf being on the market at the same time actually brought attention to Custom House Wharf and helped attract prospective buyers. "There was a lot of interest. A lot of different ideas. A lot of potential buyers had big ideas, but with the zoning there's a limit," Benoit said. "The buyers are a well-heeled group and they know what they're doing. It's important to protect the heritage and the fishing community." Custom House Wharf has about 1.5 acres of waterfront property, more than 100,00 square feet of rental space and 3,700 feet of dock space. There's also development potential on the parking lot at 90 Commercial St., according to the listing on the New England Commercial Property Exchange. The Custom House Wharf property is designated an "opportunity zone," which allows investors the possibility of significant tax benefits, the listing said. Current tenants include Custom House Seafood, Coastal Bait, Harbor Fish Market, Boone's Family Restaurant, the Porthole, Gilbert's Chowder House and Sea Bags, accord- ing to the listing. P H O T O / C O U R T E S Y O F B E N C H M A R K R E A L E S TAT E The waterfront properties come with opportunities but also restrictions. S T A T E W I D E S O U T H E R N Portland's Custom House Wharf, housing Harbor Fish Market, is under a letter of intent to be sold to Maine buyers.

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