After years of service, some properties face capital needs that require immediate attention but lack adequate reserves to address the necessary repairs. In response to the situation, MaineHousing has create the Supportive Housing Repair Program (SHPR) that has allocated $500,000 in deferred due on sale funding targeted to assist owners in completing the required repairs that will ensure the properties are able to continue to provide decent, safe, sanitary housing to Maine’s most vulnerable citizens.
To be eligible for funding, an applicant must:
- Be the owner of a supportive housing project in Maine that:
- is currently financed by MaineHousing, and
- was first developed an
- occupied before January 1, 2005.
- Be a 501(c)(3) corporation
- Provide a corporate resolution demonstrating the authority to apply for this Program and to comply with MaineHousing requirements for the deferred loan.
- Anticipate continued use for the longer of the remaining term on the MaineHousing loan documents or five (5) years.
- Be in compliance with all covenants regarding use in MaineHousing loan documents.
- Meet all submission requirements set forth below.
Non-recipients of 2014 Supportive Housing Repair Deferred Loan Program funding awards will take priority over recipients of 2014 funding awards.
MaineHousing will not process an application from an applicant if the applicant, or any other entity in which the applicant or one of its affiliates has a controlling interest, at any time during the previous 6 months, (i) has been more than 60 days delinquent on MaineHousing financing, or has been issued a notice of default unless an approved workout plan is in place and in good standing, or (ii) has been the owner of any MaineHousing-financed project that was foreclosed upon by MaineHousing or conveyed to MaineHousing by deed-in-lieu.
Owners and contractors must not be debarred, suspended, proposed for debarment, or voluntarily excluded from participation in federal housing programs or MaineHousing programs. Owners, operators, and contractors may not participate in this program if they have ever had a professional license to provide the nature of services they seek to provide in this program suspended or revoked.
For full details on eligibility requirements and projects please refer to the Supportive Housing Repair Program Guide
Applications will accepted at the MaineHousing Augusta office until the earlier of December 31, 2016 or the depletion of funds.
For more information see the Supportive Housing Repair Program Guide, review the related links, or contact:
Kimberly Whitley, Portfolio Manager
(207) 624 5781