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W W W. M A I N E B I Z . B I Z 19 JA N UA R Y 2 3 , 2 0 2 3 F O C U S S O U T H E R N M A I N E But the brothers wanted someone who would preserve the land as work- ing waterfront. Strater understood the value of working waterfront. "is kind of working space is priceless," he says. e three got talking. "I can't remember if they approached me or if I approached them," says Strater. "I saw the for-sale sign. I said, 'Wait a minute, this is for sale.' And they thought that I would be a good candidate to buy it." Strater looked into conventional lend- ers and investors for the purchase. No one bit. He continued to talk up the facility with folks in the local maritime industry, eventually meeting Rebecca Rundquist, a Yarmouth resident with extensive experi- ence in the nonprofit world and who worked on the early stages of acquiring the lands that became the Katahdin Woods and Waters National Monument. Further research uncovered a U.S. Department of Agriculture Community Facilities loan program offered by Coastal Enterprises Inc. in Brunswick. Eligible borrowers include community- based nonprofits in rural areas. at started the ball rolling to find- ing like-minded residents and busi- ness owners who would agree to form a board of directors to found the nonprofit Sea Meadow Marine Foundation and nailing down the deal in late 2021. A year later, the group is in the midst of plans for a facility that's seen as vital in the face of Maine's waning working waterfront. "ey've been able to clean up the site and bring the existing businesses up to capacity," says Scott LaFlamme, Yarmouth's director of economic devel- opment. "We're working with them to figure out potential future uses and talk through what the local planning process might look like." Work in progress Sea Meadow Marine is a work in prog- ress and buying the 12-acre property, listed at $1.22 million, was complicated. Significant upgrades are needed — the site lacks sewer and water infrastructure, instead relying on a portable toilet and water that's trucked in. e goal is to operate the site as a business incubator and marine busi- ness hub for early-stage fisheries and sustainable aquaculture businesses alongside marina services, heritage boat builders and recreational marine organizations. Today, tenants support 26 working waterfront jobs in small oyster, kelp, quahog and scallop farm operations, boatbuilding and service companies. Yarmouth Rowing Club uses it as a base of operations. Joe and Megan Lowell rebooted their operation as Downeast Custom Boats. "In order to be able to farm or work in the wild fisheries, people always pic- ture us out on the water," say Amanda Moeser, a board member and coastal ecologist who owns Lanes Island Oysters elsewhere in Yarmouth. She regularly stops by the Sea Meadow facility to sell product to a dealer. "But we also need a place to park We're here for you. At Katahdin Trust, we're proud to be your business banking partner for more than 100 years. Visit your local branch at: 136 U.S. Route One, Scarborough | 207.510.7017 CHECKING | SAVINGS | LOANS | BUSINESS ACCOUNTS MEMBER FDIC EQUAL HOUSING LENDER KatahdinTrust.com To find one of our 16 banking locations, visit: C O N T I N U E D O N F O L L OW I N G PA G E » Sea Meadow is highlighting the need to preserve other locations. — Alicia Gaiero Nauti Sisters Sea Farm Alicia Gaiero, operating Nauti Sisters Sea Farm from Sea Meadow Marine in Yarmouth, says having permanent accessibility is a game-changer. P H O T O / C O U R T E S Y O F S T E V E D E N E E F Reach out to see how we may be able to assist in your next project! ARCHITECTURE | INTERIOR DESIGN LANDSCAPE ARCHITECTURE | MASTER PLANNING LISTEN. INNOVATE. DESIGN. LANDRY/FRENCH CONSTRUCTION | SCARBOROUGH, ME www.GawronTurgeon.com

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