Seven grants made to offshore islands

Chebeague, Isle au Haut, Islesboro, Monhegan, and Peaks Islands receive funds to support affordable housing

June 2007

 

Five nonprofit groups from Maine's offshore islands received a boost on June 19 when seven separate grants to assist year-round island families to secure stable, affordable homes were announced by the Islands Challenge Fund and the Affordable Coast Fund.

The Genesis Fund-administered the Islands Challenge Fund awarded two grants of $25,000 each to the Chebeague Island Community Association (CICA) and Homestart, a nonprofit group on Peaks Island . The grants, which must be matched by an equal amount of local fundraising, will allow both groups to purchase a single family home for income-eligible first time homebuyers.

Additionally CICA and Homestart each received a grant, $20,000 and $25,000 respectively, from the Affordable Coast Fund, a fund developed in 2007 by the Island Institute of Rockland to assist nonprofit island housing groups with land purchase, capital projects and professional development in support of affordable housing. The two grants awarded to Homestart will support the acquisition of first phase of work to bring several much-needed affordable homes to Peaks Island .

The Affordable Coast Fund also made three grants of $5,000 each to other island nonprofits engaged in developing affordable housing that is critical to the stability of year-round island communities. Monhegan Island Sustainable Community Association (MISCA) received a grant to assist with repairs to the building it owns in the island center. Islesboro Affordable Property will use its grant toward the installation of a septic system for a modular home to be ferried to the island this summer. Isle au Haut Community Development Corporation will use its grant award to repair and maintain existing affordable rental housing owned by the organization.

Since the early 1900s, the number of Maine islands with year-round communities has dwindled from 300 to 14. Changes in the economy and skyrocketing real estate prices have made it increasingly difficult for working families to preserve a foothold on the islands.

In 2004 the Genesis Community Loan Fund, in collaboration with the Maine Sea Coast Mission and the Island Institute with the Maine Community Foundation serving as fiscal agent, launched the Islands Challenge Fund to support island-based community development initiatives.  In December 2004, Jane's Trust of Boston provided the first significant funding for the Fund with a challenge grant of $220,000.  In December 2005, the challenge to raise $50,000 to secure a second year of funding from Jane's Trust was exceeded.  In 2007 the Genesis Fund received an additional grant of $50,000 from Jane's Trust to subsidize the interest rates of loans made by the Genesis Fund to island nonprofits. Islesboro Affordable Property was granted a subsidized interest loan -- $140,000 at 4% -- for its newest project by the Genesis Fund board of directors on June 14.

"These island groups of volunteers put forward thoughtful and creative plans to address the housing crises on their islands. We're pleased to be able to complement their good work bringing grant money and flexible, low-cost financing to the table," said Liza Fleming-Ives, associate director of the Genesis Fund and administrator of the Islands Challenge Fund. With the grants made in June the Islands Challenge Fund has now made grants of $25,000 to Islesboro, Monhegan, North Haven, Chebeague, and Peaks Island. 

In its effort to make funds available to address two critical issues facing Maine's year-round island and coastal communities – the lack of affordable housing and diminishing saltwater access for those who depend upon fishing for their livelihoods – the Island Institute developed the Affordable Coast Fund. Because of the Island Institute's early involvement with the Islands Challenge Fund, the application process for island organization mirrors the Islands Challenge Fund's process and avails itself of the same nine-member Grants Committee that includes island residents.

The Island Institute's Community Development Director Chris Wolfe, who administers the Affordable Coast Fund, said, "By collaborating with the Genesis Fund, we are able to help island housing groups to leverage additional dollars from a variety of funding sources to further affordable housing for island residents."

 

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