ME LD1167

Maine State Housing Authority would create a pilot program providing grants up to $80,000 per unit to nonprofit housing developers for rehabilitating aging housing stock, with a target of 15 units total

Grants may fund lead paint mitigation, energy efficiency improvements, and repairs to wells, heating systems, electrical systems, roofs, chimneys, windows, doors, siding, and accessibility modifications

Rehabilitated units must be sold to first-time home buyers who will occupy the property and earn no more than 120% of area median income

Buyers who sell within 3 years must return a graduated percentage of profits to the nonprofit developer: 75% if sold in year one, 50% in year two, 25% in year three, with full profit retention after 36 months

One-time appropriation of $1,200,000 from the General Fund in fiscal year 2025-26