Mainebiz

V O L . X X X N O. X I X 64 Fact Book / Doing Business in Maine B U S I N E S S R E S O U R C E S he Genesis team contributing to the project collectively has decades of experience in affordable housing development, funding and finance as well as extensive networks within the affordable housing com- munity in Maine. Mainebiz asked Fleming-Ives how the partnership with MaineHousing works and about its outcomes so far. Here's an edited transcript. Mainebiz: What does the contract with MaineHousing entail? Liza Fleming-Ives: Genesis has part- nered with MaineHousing to guide smaller-scale developers, community groups, and municipalities in Maine to develop project plans and help them access MaineHousing resources to build affordable housing. Two programs we're focused on are the Rural Affordable Rental Housing Program and the Affordable Homeownership Program. MB: What have you been hearing about the need for this guidance? LFI: We're hearing from communi- ties around the state about the lack of affordable housing and the need for assistance in putting projects together and accessing funding. rough this partnership, we're work- ing to connect communities to infor- mation and resources. We've provided workshops from Kittery to Presque Isle to share information about the housing development process and how to access funds through MaineHousing. From those sessions, we've heard from devel- opers and community groups about spe- cific projects ideas, and we've followed up with customized support. MB: How much interest is out there? LFI: In just two years, we've responded to over 100 Maine developers and com- munities interested in learning about the development process and funding opportunities. We continue to assist a number of developers in their next steps. MB: What are the next steps? LFI: After funding has been committed to projects, we help developers navi- gate final project planning and funding approvals to get under construction. Six developers currently have funding com- mitted through MaineHousing's Rural Affordable Rental Housing Program, and are developing final plans for proj- ects in Rockport, Sanford, Newcastle, Hallowell, Waterville and Rumford. B U S I N E S S R E S O U R C E S MB: Are MaineHousing programs attracting newer developers?' LFI: Yes. We're seeing developers who haven't done affordable develop- ment before and haven't worked with MaineHousing but have experience building market-rate housing. ey want to learn how to put together affordable housing projects and contrib- ute to addressing the housing needs they see in their communities. We are pleased to be building capacity among develop- ers who haven't done this work before. We're also seeing new housing in communities that haven't seen much or any affordable housing develop- ment in the recent past. MB: Is there typically a local con- nection in this sector? LFI: It's a mix. ere are developers working in the community or region where they live who are very aware of housing needs. Others are looking at communities where housing is needed and finding opportunities to make projects happen. MB: What's an example of that local connection? LFI: ere's a family company based in Sanford that Genesis connected with at an information session we offered in York County. ey had experience with mar- ket-rate housing and commercial devel- opment and were interested in how they could contribute to building affordable housing. Now, a year later, they've been awarded MaineHousing funding to build 18 affordable apartments in Sanford. MB: What else is making your partner- ship with MaineHousing successful? LFI: As a community lender for over 30 years, Genesis knows that projects cannot move forward without funding. Maine is fortunate that Gov. [ Janet] Mills and the Legislature have commit- ted essential resources to create afford- able housing — that's key to the success of this partnership. By connecting those who can create affordable housing to the resources they need, we can create vibrant, prosperous Maine communities. And that's exciting. T Genesis Community Loan fund works with MaineHousing to help developers access funding B y L a u r i e S c h r e i b e r P H O T O / C O U R T E S Y O F F L A X S T U D I O S Liza Fleming-Ives, executive director of the Brunswick-based Genesis Community Loan Fund The Genesis Community Loan Fund, a nonprofit community development financial institution in Brunswick, has been working with MaineHousing since January 2023 to help increase Maine's supply of high-quality, energy-efficient affordable homes. "Helping communities develop project plans and bring together resources is at the heart of what Genesis does — and has done with great results for over 30 years," said Genesis Executive Director Liza Fleming-Ives. As a community lender for over 30 years, Genesis knows that projects cannot move forward without funding.

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