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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 Maine groups working to create
affordable housing and other economic and social
opportunities in their communities by
offering innovative financing, expert
assistance, and help 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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Beth McPherson to receive Golden Grower Philanthropy Award
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Maine Initiatives honors outgoing Genesis Fund executive director
Genesis Fund executive director Beth
McPherson will be honored by Maine
Initiatives at its 2007 Watering Can
Awards Dinner on May 24 at the Taste of
Maine Restaurant in Woolwich.
Beth
will receive the Golden Grower Philanthropy
Award for her work with the Genesis Fund and
Maine Funders for
Change.
Maine Funders for Change
began in 1994 as an effort by five nonprofit
organizations - Maine Initiatives,
MaineShare, Maine Women's Fund, Haymarket
People's Fund, and the Genesis Community Loan
Fund - to broaden the philanthropic reach of
nonprofits with volunteer boards and small
staffs at a time of declining federal and
state support. Karin Anderson of the Maine
Women's
Fund and Maine Initiatives' outgoing director,
Deborah Felder, both of whom were key players in
the effort, will be honored along with
Beth.
Congratulations to each of them!
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2006 data demonstrates gaps between income and housing costs
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MaineHousing posts local housing stats online
While the Genesis Fund is best known for its
nimble and creative assistance to Maine
nonprofits, we occasionally become fascinated
by statistical analysis of Maine's housing
climate. This is one of those
times.
For the first time MaineHousing
has posted detailed local housing
information
online at www.mainehousing.org/reports.html
(from there click on "Housing Facts").
Reports detail homeownership
facts and rental affordablility figures for
the entire state and for each county. In
addition, the reports break down median home
prices and median
household income for municpalities in each
county. Separate reports are also included
for our two congressional districts and for
28 individual housing markets (and the
muncipalies therein). Additional information
in the rental facts reports pertains to
assisted housing and household
demographics.
Below is a short summary
of the findings. Please use the link at the
bottom of this article to find detailed
information about
your community.
· Between 2001 and
2006 the median home price in Maine rose
68.3% (from $118,900 to $185,000) while
median income rose 17.2%. (from $40,862 to
$44,488).
· In 2006, 66.6% of Maine households
(370,395) were unable to afford a median
priced home (i.e. enough income to cover
mortgage, taxes, insurance without exceeding 28%
of gross income). While the 2006 figure is
down slightly from the 2005 high of 68%, it
is up from
the 2001 figure of 54% of households
(273,260) unable to afford a median price
home. That means close to 100,000
additional Maine households were priced out
of a home in their community over a
five-year span.
· The average rent for a two bedroom
apartment rose 30.4% during the same
five-year period.
· The percentage of renters paying more than
30% of their household income for rent rose
from 38.3% in 2001 to 44.4% in 2006.
· The median household income for renters was
$28,387 in 2006. This reflects the
considerable difference
of $16,000 between Maine median income and
the income of those who rent.
Also of interest is the recent report from
the Margaret Chase Smith Policy Center at the
University of Maine, "Poverty in Maine -
2006: Statewide Patterns," available here
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The Genesis Fund takes its show on the road
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Invite us to share the work we do with nonprofit groups across Maine
Since 1992, the Genesis Fund has provided
low-cost financing and expert
assistance to more than 135 Maine nonprofit
organizations. Groups working to improve
affordable
housing and local community facilites have
often heard about us by word-of-mouth. While
that has kept Genesis Fund staff busy over
the past 15 years, it is time to share the
stories about projects we've worked on in a
more deliberate way.
Beginning in
May, Genesis Fund Communications Director
Heidi Shott (pictured above receiving her
first Rotary coffee mug from
Damariscotta/Newcastle Rotary Vice President
Phil Congdon and Camden National Bank's Gary
Stone) started giving talks to groups across
the state about the Genesis Fund's work in
affordable and supportive housing, community
development, sustaining island communities,
as well as its newest work with residents
of mobile home parks.
Heidi would be
pleased to talk with business groups, civic club
leaders, churches, and nonprofit
organizations about making a presentation
tailored
to your interests and region. Please contact
her at 207.563.6073 or heidi@genesisfund.org
to set up a visit.
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