Issue link: https://nebusinessmedia.uberflip.com/i/1544942
W W W. M A I N E B I Z . B I Z 13 J U N E 1 , 2 0 2 6 Funding for MaineHousing projects MaineHousing, which administers funding for affordable housing devel- opment, was allocated $37.5 million in the supplemental budget, an increase of $10 million over funding in the 2023-24 biennial budget. Additionally, a restructuring of how proceeds from the real estate transfer tax are allocated, which passed in 2024 under LD 1082, is projected to support housing pro- duction through MaineHousing to the tune of $17 million annually. at funding will be available for the first time this year. "is represents a continued com- mitment from the administration and the Legislature to make mean- ingful investments in housing. We have never had a more robust pro- duction pipeline, and it's because of investments like this," says Erik Jor- gensen, senior director for govern- ment relations and communications at MaineHousing. In March the Augusta-based orga- nization announced the award of $12 million in grants through Maine's Home for Good program, which will create 92 affordable apartments in three Maine communities — Bangor, South Portland and Portland — to provide housing for the chronically homeless. "Government subsidy, while important, is not going to solve Maine's housing shortage. We really need it, but we also need land use reforms and consistent policies to allow housing to be built at greater scale," Jorgensen says. "We need housing that is afford- able to people at all income levels, not just those households who live in 'affordable housing' — the income restricted buildings that MaineHous- ing finances." A 'corrective' bill passes LD 2173 is aimed at "fixing" some of the more unpopular zoning man- dates that had previously been signed into law in 2022 under LD 2003, then altered in 2025, under LD 1829. H H DOVER-FOXCROFT CORINTH H H H H H H H H H H H H H H H H H H H H H H H H H H H H H BELFAST ROCHESTER GORHAM PORTLAND LIVERMORE FALLS MEXICO BRUNSWICK AUBURN BOOTHBAY HARBOR DAMARISCOTTA ROCKLAND CAMDEN BUCKSPORT BLUE HILL ELLSWORTH BAR HARBOR CHERRYFIELD MACHIAS CALAIS BELGRADE FAIRFIELD FARMINGTON SKOWHEGAN BANGOR GREENVILLE WATERVILLE WEST ENFIELD OLD TOWN KINGFIELD PALMYRA MADISON MADISON H H H 34 LOCATIONS ACROSS MAINE & NEW HAMPSHIRE YOUR BUILDING PROJECT PARTNER HAMMONDLUMBER.COM FOURTH GENERATION | FAMILY-OWNED | SINCE 1953 1,200+ EMPLOYEES & GROWING C O N T I N U E D O N F O L L OW I N G PAG E » This represents a continued commitment from the administration and the Legislature to make meaningful investments in housing. — Erik Jorgensen MaineHousing Erik Jorgensen F I L E P H O T O