This fall, the Genesis Fund board and staff received the good news from the Corporation for Enterprise Development that it has been awarded a $50,000 Catalyst Grant from its I'M HOME program (Innovations in Manufactured Homes).

The grant will allow the Genesis Fund to move full speed ahead with efforts to help residents of some of Maine 's 552 mobile home parks convert from investor-owned parks to resident-owned cooperatives. The Genesis Fund's sister loan fund, the New Hampshire Community Loan Fund, has, since 1983, been successful in helping residents who occupy the greatest share of unsubsidized affordable housing in the nation to organize, incorporate, purchase and manage their own mobile home parks. Eighty-seven parks have been converted in New Hampshire and its successful process has been adapted for use in other states.

With funds from the grant, the Genesis Fund has hired Yvonne Mickles as program coordinator in the effort to identify and assist up to three mobile home parks convert to resident ownership over the next 18 month. Mickles, who has worked as a Homeless Initiatives Coordinator at MaineHousing, is currently Associate Director of Community Impact at United Way of Midcoast Maine. Mickles will begin work at the end of November.

Genesis Fund Associate Director Liza Fleming-Ives, who wrote the grant, is thrilled that Mickles has accepted the job. "Whether it is sitting at someone's kitchen table talking about joining a cooperative or testifying before a legislative committee on behalf of this work, we're confident that Yvonne is equipped to handle it all."

HomeStart, Peaks Island
With the help of a Genesis Fund acquisition loan of $187,000, HomeStart, a volunteer-run nonprofit housing group on Peaks Island, was able to purchase its first property to assist in providing affordable, year-round housing on the island.

The 16,000 square foot lot on which the single family home sits is large enough to allow HomeStart to develop two additional properties. HomeStart is in the process of seeking rezoning approval from the City of Portland to construct up to two townhouses which the organization plans to sell to low- and moderate- income families. While its rezoning application is being considered, HomeStart will rent the single-family house (for up to two years) to a moderate-income family.

Community Housing of Maine, Vinalhaven
Community Housing of Maine, was awarded an acquisition loan of $150,000 to purchase a commercial building on Vinalhaven that is being converted into six affordable rental apartments.

Originally a general store, the building is in the process of being converted into 6 affordable apartments within walking distance from downtown and the ferry dock.

Like many island and coastal communities in Maine , Vinalhaven has experienced serious inflation of property values caused by the influx of affluent, seasonal buyers. This has made it increasingly difficult for low- and moderate-income families to afford housing, particularly since the cost of constructing new housing is compounded by distance from the mainland.

Since 1992 those who support the Genesis Community Loan Fund have understood the extraordinary work that a revolving loan fund can do. By making flexible, low-interest loans rather than outright grants to Maine's nonprofit organizations, the Genesis Fund can use the same pool of funds over and over again. And in 15 years of lending, we've never had a loan go bad.

Many supporters make short- or long-term investments in our revolving pool of capital, others donate to our annual appeal to help us keep the lights on and to help fund the technical assistance our staff offers to nonprofits in addition to the loan check - often at low- or no-cost.

This holiday season the Genesis Fund offers an additional way to support our work: A donation to our permanent pool of revolving capital in honor of a friend or family member. In June 2007 the board of directors named our permanent pool of capital, which stands at $1 million of the total $4.4 million in the lending pool, the Elizabeth McPherson Permanent Capital Fund, in honor of Beth McPherson who retired after serving as Executive Director for 14 years.

With a $50 gift to the permanent loan pool, we will send your honored friend or family member a beautiful fine arts holiday card to mark your gift and explain the work of the Genesis Fund. The card, adorned with an assemblage collage image titled "Happy Village," by Damariscotta artist Debra Arter is also available as a larger print with a portion of the proceeds going to the Genesis Fund annual appeal.

To make your gift right now, please visit our website at www.genesisfund.org/holidaygiving.htm. Your gift to our permanent revolving loan pool will allow your loved one to look at housing and community development projects across Maine in the years to come and say, "My gift is working there, and there, and there."

Thanks for your continued support.