Resolve, To Create A Pilot Program To Assist Nonprofit Housing Developers In Rehabilitating Existing Aging Housing Stock For First-Time Home Buyers

LD 1167 creates a Maine State Housing Authority pilot program to provide grants of up to $80,000 per unit to nonprofit housing developers for rehabilitating 15 existing aging housing units. The program targets first-time home buyers with incomes not exceeding 120% of the area median income, requiring them to occupy the unit and agree to return a graduated percentage of sale profits (25%-75%) if sold within the first three years. Grants cover specific repairs like lead paint mitigation, energy efficiency upgrades, structural fixes, and accessibility improvements. The program is funded with a one-time $1.2 million appropriation from the General Fund for the 2025-26 fiscal year.