The Genesis Community Loan Fund's board of directors approved five loans totaling $1,016,500 at its June 14 board meeting in Brunswick.

Islesboro Affordable Housing (IAP):
The Genesis Fund board approved a loan of $79,500 to refinance the IAP-owned single-family rental home in Dark Harbor as well as an acquisition loan of $140,000 to allow IAP to purchase a second modular home for an income-eligible, year-round island family on an IAP-owned parcel.

Sanford Housing Authority:
The Genesis Fund board approved a predevelopment loan of $200,000 for The Maples, a project by the Sanford Housing Authority which will provide rental apartments to seniors in Sanford.

Chebeague Island Community Association (CICA):
The Genesis Fund board approved a loan of $197,000 to allow CICA to purchase an existing single-family house and keep it permanently affordable for a year-round family.

Holbrook Community Foundation (HCF), Cundy's Harbor:
The Genesis Fund board approved a six-month extension of its current $700,000 bridge loan pending the arrival of a $300,000 grant from the Working Waterfront Access Pilot Program. Upon repaying $300,000 to the Genesis Fund, HCF will refinance $400,000 for five years.

On June 19, Passamaquoddy people of Indian Township celebrated the completion of a six-bed assisted living facility for tribal elders to open in August.

Since 2003 the Genesis Fund staff have worked closely with tribal leaders and Planning Director Bob Tyler to leverage nearly $2 million dollars to support both the assisted living facility and for a six-unit senior apartment project currently under construction next door.

USDA Rural Development, MaineHousing, and the Administration for Native Americans provided a combination of loans and grants to make these two vitally important projects possible for this community of 700 people.

After the ribbon-cutting for the assisted living building and the ground-breaking at the senior apartment site, Tribal Governor William Nicholas and two elders, Blanche Socobasin and Joan Dana, burned sage leaves to purify the building. With song and drumbeat and the fragrant smoke of the leaves, they led those gathered through the facility and then welcomed the guests, including representatives from Maine's congressional delegation, to lunch.

"The building has been smudged," said Governor Nicholas, "so it is safe for our elders to be here."

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 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. 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 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), Islesboro Affordable Property; and Isle au Haut Community Development Corporation.

The Federal Home Loan Bank of Boston (the Bank) awarded more than $3.5 million to fund 161 units of affordable housing in five Maine communities through its Affordable Housing Program (AHP).

One of the awards, sponsored by the Genesis Fund through member bank Camden National will bring $119,997 in grant and subsidy to the Riverview [Mobile Home] Park Cooperative in Fort Kent. In addition, Camden National Bank will make an acquisition loan of $120,000. The funds will support the acquisition and rehabilitation of an existing, investor-owned manufactured-home park that will be converted to a resident-owned cooperative. The Genesis Fund has been working with the Town of Fort Kent and Riverview residents since January to help residents become resident-owners of the park.

Twelve units will be occupied by households with incomes at or below 50 percent of area median income, six with incomes between 61 and 80 percent of area median income, and four units will be market rate. All residents will be offered financial planning, educational services, participation in the home-owners' association, and legal authority for management.