An Act To Establish The Community Housing And Rural Development Authority

This bill creates a new Community Housing Production Program and a dedicated fund managed by the Maine State Housing Authority to support the development of mixed-income rental housing. The program will provide grants to nonprofit developers, housing cooperatives, municipalities, and other public entities for projects that include at least 20% of units affordable to those earning 60% or less of the area median income and 10% affordable to those earning 30% or less. To launch the initiative, the legislation appropriates $75 million for the new housing production fund and an additional $25 million for existing homeownership assistance programs in the 2024-25 fiscal year.