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The Lending Hand e-Newsletter
The Lending Hand is a monthly email
newsletter about the work of the Genesis Fund, a
community loan fund serving all of Maine. Our
mission is to help people committed to creating
affordable
housing and other economic and social opportunities
in their communities by offering loans,
organizational assistance and support in leveraging
other sources of funding. Find out more about
Genesis by reading below or visit our website at www.genesisfund.org.
We look forward to hearing from you!
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Genesis assists Habitat for Humanity with midcoast ReStore
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BIW building in Bath will become source of low-cost building materials
The Genesis Fund Board of Directors recently
approved a $100,000 loan to Habitat for Humanity/7
Rivers Maine affiliate to assist with funding the
purchase of a BIW office building in downtown Bath.
The purchase will allow 7 Rivers Maine to develop a
ReStore retail outlet and provide space for the
affiliate offices. With the Genesis loan and a
$350,000 bank loan, 7
Rivers Maine will be able to begin the project.
Permanent funding is expected from the federal Rural
Development Community Facility program in coming
months. Founded in 1990 7 Rivers Maine serves
Brunswick, Harpswell and Sagadahoc and Lincoln
Counties.
Habitat ReStores are retail outlets
where quality used and surplus building materials,
furniture, housewares and appliances are sold at 50
to 80 percent of normal prices. Proceeds
from ReStores help local affiliates fund the
construction of Habitat houses within the community.
Many of the 1,500 affiliates across the United
States and Canada operate successful ReStores—some
of which raise enough funds to build an additional
10 or more houses per year.
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Passamaquoddy Tribe awarded $79,560 grant for residential care facility
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Genesis grantwriting helped win funds for start up costs and staff training
The Administration for Native Americans recently
awarded the Passamaquoddy Tribe at Indian Township
(Princeton) a grant of $79,560 to cover the start-up
costs of a residential care facility now under
construction, as well as workforce training for 15
tribal members who will staff the facility or work
elsewhere in neighboring communities. Genesis
Associate Director Liza Fleming-Ives crafted the
grant application on behalf of the tribe.
In recent years Genesis has provided significant
technical assistance to the Indian Township
Passamaquoddy leaders, including help in raising
$1.7 million for the residential care facility
and apartments for seniors.
Above:Last spring tribal leaders and project
supporters are about to turn the sod on a $7 million
water and waste treatment facility which is crucial
to the development of the two projects.
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Genesis Fund 2006 Annual Report available on-line
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"A Place to Call Home" features personal stories
Over the course of FY 2006, the Genesis Fund made
loans of more than $1.6 million dollars and helped
to leverage an additional $10.5 million for 27
nonprofit groups working to build better, stronger
communities.
That's great news and the many projects Genesis has
assisted will make a difference in the lives of many
Mainers.
The three stories we feature in this year's
annual report, "A Place to Call Home," focus on the
individuals who have benefited from Genesis
involvement.
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