Thursday, Feb 8 - MAHC Member Meeting, 9-10:30 am, Maine Housing, 26 Edison Drive, Augusta
In person panel discussion on the Affordable Housing Investment Market. Email for remote access.
REMINDER: Today, Jan 11, 2-3:30 pm: MaineHousing Discussion on Changes to '25-'26 Qualified Allocation Plan (QAP)
Attendance in person at MaineHousing or remote with Meeting ID: 628650717 and Password: dQcZJey4Dc.
MAHC will be speaking to: geographic points and need for diverse geography or lower points for this overall, the need for shorter environmental review periods and potentially outsourcing with QEP at the expense of the developer, the relatively low developer fee cap compared to other regions, the need for more family housing, the need to differentiate between workforce and family housing so there are 1 and 2 bedroom units available, and the need for funding to cover energy requirements.
ACTION ALERT: Testify on Jan 24, 1 pm, MAHC Priority Bill LD2106 Public Hearing to Increase State Historic Tax Credit
MAHC's priority bill LD2106 to double the state historic tax credit from $5M to $10 million dollars to support affordable housing redevelopment has a public hearing scheduled for Wed., January 24, at 1 pm in front of the Taxation Committee.
Please come out to testify in support. The Taxation Committee doesn't have the background on affordable housing like the Housing Committee does. This bill will build new affordable housing! Share your examples of projects that have used the state historic tax credit for affordable housing, how and why costs have increased since the cap was set in 2008 at $5 million, and the importance of redeveloping sites in already developed areas.
SAVE THE DATE for Taxation Committee, State House, Rm 127
Talking Points
The Legislature overhauled the Historic Property Rehabilitation Tax Credit in 2008,instituting a cap of $5 million on the credit a developer of a historic property can take in one year. In 2013, I cosponsored a bill that made clear that if a developer is doing a project with many buildings in a large historic complex, the $5 million annual cap pertains to each building, rather than the entire complex.
Fast forward to today, when Maine construction costs have more doubled since 2013. Compared to 2008, they have risen even more. This means that $5 million buys only half the construction that it did in 2013.
This is a major problem for Maine at a time when we need more housing in places like historic mills, schools, churches, grange halls, and other historic buildings.
This is a very simple bill that increases the cap to $10 million, bringing the purchasing power of the Maine credit closer to where it was when the $5 million cap was established in 2008. This would help with the rehabilitation of mills and other historic buildings in my backyard in Lewiston, as well as in Biddeford, Sanford, and other communities across the State.
This is a tangible thing we can do to boost the production of housing in Maine, which is why I’m proud that the bill has the support of the Maine Affordable Housing Coalition. I’m hopeful that other organizations will join them in support of the bill once they have a chance to review it fully.
REMINDER: Act Today to Increase Federal LIHTC Funding
LIHTC is the largest source of funding to build affordable housing. The US has under invested in building affordable housing for decades. Right now, Congress is deliberating a tax bill and the Affordable Housing Credit Improvement Act (AHCIA) needs to be added today. More than 50% of Congress is in support of AHCIA, but now is the time to enact it!
Housing Committee Schedule - Note important shelter funding bills LD2136 and LD2138 on Jan 23
Jan 12, 9:00 am - Work Sessions
LD887 - An Act to Amend the Regulation of Mobile Home Parks, Sen. President Jackson
LD 1673 - An Act to Encourage Affordable Housing and Mixed-use Development by Establishing a Thriving Corridors Program, Rep. Gere
LD1864 - An Act to Increase Maine's Housing Supply by Prohibiting Certain Zoning Requirements in Areas Where Public Sewer and Water Infrastructure Are Available and in Designated Growth Areas, Rep. Boyle.
LD 1976 - An Act to Update the Growth Management Program Laws, Rep. Sachs
LD 1867 - An Act to Establish the Community Housing and Rural Development Authority, Rep. Lookner
LD 1940 - An Act to Promote Consistent Policies within Growth Management Programs in Order to Increase Food Security and Economic Resiliency in Local Communities, Sen. Hickman
Jan 23, 1:00 pm - Public Hearings
LD 337, HP0211An Act to Amend the Regulations of Manufactured Housing to Increase Affordable Housing - Rep. Cheryl Golek of Harpswell
LD 2136, HP1360An Act to Provide Financial Support for Shelters for Unhoused Individuals - Rep. Anne-Marie Mastraccio of Sanford
LD 2138, HP1362Resolve, to Improve Funding for Homeless Shelters - Rep. Colleen Madigan of Waterville
LD 1752, SP0697Resolve, to Prepare Preapproved Building Types - Sen. Matthew Pouliot of Kennebec
LD 853, HP0543RESOLUTION, Proposing an Amendment to the Constitution of Maine to Establish a Right to Housing - Rep. Benjamin Collings of Portland
New Report to Be Released at Live Event in Washington, DC
In 2022, half of all US renters were cost burdened. This all-time high of 22.4 million renter households spent more than 30 percent of their income on rent and was an increase of 2 million households in just three years.
Join us for the release of our new America's Rental Housing 2024 report on Thursday, January 25 at UnidosUS in Washington, DC at 4:00 pm ET. The event will also be livestreamed and registration is required for both in-person and online attendance.
![[Photo: courtesy MH Advisors]](https://media.licdn.com/dms/image/D4E12AQFxYokToPv7xA/article-cover_image-shrink_720_1280/0/1704494684941?e=1710374400&v=beta&t=2MbBipSeamprbLWwYMUWUqjYM2cEnYndGybFOdohZz0)
