November 2005

Genesis approves loan to create affordable housing on Monhegan Island

In November 2005, Genesis approved a $100,000 loan to Monhegan Island Sustainable Community Association (MISCA) in support of affordable housing for year-round island residents. The loan will help MISCA purchase a property in the village cluster that will support two affordable homes.

 

MISCA is a community land trust that promotes the sustainability of the year-round Monhegan community while respecting the island's long history of conservation. MISCA works to develop housing options and economic opportunities for the year-round community by acquiring land and buildings and, while holding the land in perpetuity, making the buildings available for purchase at affordable prices by year-round island residents.

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