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W W W. M A I N E B I Z . B I Z 7 S E P T E M B E R 7 , 2 0 1 5 FAME changes New Markets Tax Credit rule e Finance Authority of Maine has approved an emergency rule that pre- vents New Markets Tax Credit deals like the one used by Great Northern Paper mill's investors. e Bangor Daily News reported that the new rule prevents investors from using more than 5% of their investment in a New Markets Tax Credit project for the purposes of refi nancing previous investments, paying transaction fees, acquiring an existing business or mak- ing equity distributions. e newspa- per noted that FAME is planning to brief a legislative committee on the New Markets Tax Credit program later this year. Bruce Wagner, FAME's CEO, told the newspaper the new rule means that the fi nancing plan used to reopen GNP's mill in East Millinocket a few years ago would not be able to occur now. e fi nancing plan came under fi re earlier this year when a Maine Sunday Telegram investigation showed that GNP's investors infl ated the value of their investment with a $31.8 million one-day loan and another $8.2 million that was used to pay old debts. e structuring of that fi nance deal allowed the investors to receive nearly $16 million in tax credits. N O T E W O R T H Y S T A T E W I D E The Department of Homeland Security awarded $8.7 million to four Maine programs as part of the FY 2015 Homeland Security Grant Program, which is comprised of several related grant programs. The State Homeland Security Program received $3.7 million; Emergency Management Performance Grant Program, $3.5 million; Operation Stonegarden, $860,557; and Port Security Grant Program, $625,890. Kaplan University announced Bachelor of Science degree in Cybersecurity, Master of Science in Cybersecurity Management and Bachelor of Science in Finance Degree programs. 5-story building eyed for El Rayo's Portland site J.B. Brown & Sons is proposing to build a fi ve-story apartment building with commercial space in Portland at the current site of El Rayo Taqueria's location at 101 York St. e Portland Press Herald reported that the prop- erty owner's plan for its site at the corner of York and High streets calls for replacing El Rayo's building and an adjacent building with the fi ve- story building, which would include 63 market-rate apartments and 17,000 square feet of commercial space, and an adjacent two-level parking garage. e Portland Planning Board is expected to take up the property owner's proposal on Oct. 13 or Oct. 27. Portland Jetport setting new summer records e Portland International Jetport is setting new passenger records this Topsham lobster company featured in Oprah's online store — Sales boost a sure bet ReVision starting solar farm in Freeport — Dawn of a new age for solar power MITC gets $161K to boost Maine exports — Every little bit helps Portland gift card startup partners with Bangor Savings on statewide expansion — Buoy Local expanding its footprint Colby College to buy third Waterville building — A boon for downtown revitalization Lincoln mill to shut down tissue machine, lay off 20-25 workers — Another blow to Maine's beleaguered paper industry Ex-construction manager charged with embezzling — Bilking scheme backfires Police, FBI investigating Bank of Maine teller — Fund-siphoning not part of the job description Verso to lay off 300 at Jay mill — 'Optimization efforts': For whom? Developer, Portland in dispute over $85M project — Troubles keep mounting for midtown project The Portland International Jetport offers dozens of direct flights daily to major business destinations with connections worldwide. But it's the leg home that matters most. It's more than the flight. It's the whole trip. Come down our escalator and you're practically home. The Portland International Jetport. Where business meetings turn into warm greetings. p o r t l a n d j e t p o r t . o r g DAILY NON-STOP FLIGHTS TO Arrive way closer to home. © 2015 Portland International Jetport S O U T H E R N

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