Maine Revised Statutes

§4862. Maine Energy, Housing and Economic Recovery Program

1. Operator of program.  The Maine Energy, Housing and Economic Recovery Program is established. The authority shall operate the program. The program may be operated in conjunction with other programs of the authority.
[ 2009, c. 372, Pt. E, §1 (NEW) .]
2. Purposes of the program.  The program is established to:
A. Establish stable, reliable, long-term capital funding sources dedicated to providing affordable housing for families in the State; [2009, c. 372, Pt. E, §1 (NEW).]
B. Substantially increase the supply of housing that is affordable, safe, appropriately sized and located near jobs and services; [2009, c. 372, Pt. E, §1 (NEW).]
C. Improve the energy efficiency of residential housing in the State through construction of new units, replacement of older substandard units and substantial rehabilitation of existing units; [2009, c. 372, Pt. E, §1 (NEW).]
D. Stimulate the State's economy and create jobs through investment in the construction and rehabilitation of affordable rental housing; [2009, c. 372, Pt. E, §1 (NEW).]
E. Replace hazardous, unhealthy and inefficient manufactured homes that do not meet the United States Department of Housing and Urban Development standards under 24 Code of Federal Regulations, Part 3280; and [2009, c. 372, Pt. E, §1 (NEW).]
F. Reduce the State's greenhouse gas emissions, lower dependence on foreign oil and ease the energy burden on households in the State by increasing the energy efficiency of housing in the State. [2009, c. 372, Pt. E, §1 (NEW).]
[ 2009, c. 372, Pt. E, §1 (NEW) .]
3. Program elements.  The authority shall achieve the purposes of the program by applying the resources of the program to support construction or substantial rehabilitation of multifamily affordable rental housing units and replacement of manufactured housing units that do not meet the United States Department of Housing and Urban Development regulations under 24 Code of Federal Regulations, Part 3280. The authority in allocating the resources of the program shall seek to achieve the following targets over time:
A. At least 30% to the construction or substantial rehabilitation of multifamily affordable rental housing units serving seniors, as defined by the authority; [2009, c. 372, Pt. E, §1 (NEW).]
B. At least 30% to the construction or substantial rehabilitation of multifamily affordable rental housing units serving persons of any age; [2009, c. 372, Pt. E, §1 (NEW).]
C. At least 10% to the construction or substantial rehabilitation of multifamily affordable rental housing units serving populations with special needs, as defined by the authority; and [2009, c. 372, Pt. E, §1 (NEW).]
D. At least 10% to the replacement of manufactured housing units that do not meet the United States Department of Housing and Urban Development regulations under 24 Code of Federal Regulations, Part 3280. [2009, c. 372, Pt. E, §1 (NEW).]
In designing and implementing the program, the authority shall provide for the needs of rural communities through flexible standards for development size and income eligibility. No more than 30% of program resources may be allocated to projects of all types under these flexible standards.
[ 2009, c. 372, Pt. E, §1 (NEW) .]
SECTION HISTORY
2009, c. 372, Pt. E, §1 (NEW).