Housing Development Programs

About Us
Programs & Services
News & Events
Data & Reports
Education & Tools
Contact Us
Quicklinks

Pages : Programs & Services : Housing Development : Housing Development Programs

MaineHousing offers several programs to encourage private development of affordable rental housing for families, seniors and persons will special needs. Low income housing tax credits, development loans, direct development subsidies, affordable housing tax increment financing, and options to restructure debt are available. Developers are required to ensure that housing developed with MaineHousing financing remains affordable.

		Low Income Housing Tax Credit Program
		The Low Income Housing Tax Credits are a federal resource that MaineHousing allocates in Maine. The credits are allocated to developers, who sell (syndicate) them to corporate investors. Money raised from the sale is used as equity in the developer’s rental housing project.

		Rental Loan Program
		The Rental Loan Program (RLP) provides long-term mortgage financing at attractive interest rates for development of affordable rental housing in projects of 5 or more units.

		Supportive Housing Programs
		The Supportive Housing Programs (SHP) provide reduced interest rate debt financing and subsidy funds to eligible nonprofit developers to create housing for low- and very low- income persons with special needs.

		Revolving Loan for Acquisition Program
		The Revolving Loan for Acquisition Program provides loans up to $300,000 to assist developers in the acquisition of land or land and buildings for the development of affordable housing projects. Eligible projects include those that qualify and have applied (or will apply) to the tax credit financing programs, and projects that will create supportive housing units for people with special needs. The loan term is 24 months, and repayment is deferred until the project’s permanent loan closing or the end of the term.

		Affordable Housing Tax Increment Financing
		The Affordable Housing Tax Increment Financing (AHTIF) Program enables communities to dedicate the incremental tax revenues from new affordable housing development to help make the housing affordable or to pay for related costs.

		Loan Modification Program
		The Loan Modification Program offers owners of MaineHousing-financed multi-family properties the opportunity to restructure MaineHousing debt by modifying interest rates, extending loan terms, or both. Loan modifications generally lower debt service payments in return for extended project affordability.

		Subsequent Loan Program
		The Subsequent Loan Program provides additional financing to owners of existing MaineHousing-financed properties for such things as unanticipated operating shortfalls, capital improvements and creation of new units.

		Multifamily Home Energy Loan Program
		This program provides low interest loans for multifamily housing improvements that increase energy efficiency and conservation of resources.

Did you find what you were looking for? If not send us feedback by using this form.