Expands use of tax increment revenue for affordable housing projects in Maine.
This bill expands the use of tax increment revenue for affordable housing by adding authorized project costs. These costs include development, sale, purchase, financial support, and operation of affordable housing. It also includes creating, maintaining, and administering a municipal loan or grant program to assist qualifying purchasers of affordable housing. The bill allows these funds to support economic development and workforce recruitment and retention efforts, even if the housing is not located within an affordable housing development district.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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