November 2007

 

Another affordable home on Monhegan helps stabilize the year-round community

The November sale of another house to year-round Monhegan residents marks the fifth affordable home developed by the Monhegan Island Sustainable Community Association (MISCA) since its founding in 2002. With the success of the latest project, Richard Farrell, president of MISCA, commented, "The critical start up period for MISCA has reached a successful end as we have helped stabilize the winter population by helping to provide affordable year-round housing for existing residents who have spent many years on the island."

The latest home is a summer cottage on Horn Hill overlooking the village. To help make the sale possible the owner discounted the property from the market price of $525,000 to $375,000. With a $25,000 Genesis Fund-administered Islands Challenge Grant, $25,000 from the Island Institute's Affordable Coast Fund, $125,000 from MISCA's New Projects Fund, and donations from three private sources, MISCA was able to purchase the house at one of the lowest sale prices seen on the island in several years.

As with other MISCA projects, the organization will retain title to the land to ensure that the house remains affordable to year-round island families in perpetuity. Because the summer cottage must be winterized, its new owners, Rich Shay, a salesman for a marine supply company via the Internet (the first island resident to have a full-time Internet job) and an experienced builder, and Chris Cash, a lobsterwoman, purchased the cottage from MISCA for $20,000 and will invest $100,000 to winterize the property. According to Farrell, "Chris and Rich have construction skills and extended family that will ensure their success. The Monhegan community is particularly excited to have this young married couple settle on the island. They are extremely enthusiastic community participants."

Genesis Fund's Associate Director and Staff Coordinator for the Islands Challenge Fund, Liza Fleming-Ives, said, "Compared with the dire need for stable, affordable housing in many places in Maine, especially coastal communities, five units of housing may not seem like it could make much difference. However, on islands like Monhegan five units of permanent housing that is within the financial reach of working families, makes a huge difference." She continued, "The Genesis Fund staff has been privileged to walk with the people of MISCA since 2002, and we couldn't be more pleased to see how far they've come through their hard work and dedication to their community."

With MISCA's success in helping current year-round residents secure stable, affordable housing, it now turns attention to the second phase of sustaining the island community: growing the winter population. Farrell predicts this will be a slower process, but by learning to navigate the unpredictable waters of housing development – the protracted work of obtaining a rule change from the Land Use Regulatory Commission, securing private funding, and mastering the complexity of deed covenants – members of the Monhegan community are well on their way to permanently preserving their island way of life.

Congratulations, MISCA!

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