Maine State Housing Authority has received a grant fro HUD to reduce and/or eliminate lead hazards. There are 4 community action programs throughout the state who administer this grant for Maine Housing. Penquis located in Bangor covers Penobscot, Piscataquis, Somerset and Kennebec Counties. A large potion of the funding that Penquis has received will have to be spent in Bangor which has been identified by DHHS as a high risk area. Penquis can spend up to $10,000 per rental unit and enroll up to 10 units per landlord. In order to qualify for these funds, the unit has to be vacant and remain vacant until the work is complete, or the unit has to rented by a low income family with at least 1 child under the age of 6 years living in the unit full time.
There is a hitch for tapping into these funds: the monies are lent to the landlord as a “Deferred Forgivable Loan” which means that the landlord is actually borrowing the funds at 0% interest for the duration of 5 years after the date of the loan closing. The landlord must give priority to low-income families with children under the age of 6 years for the duration of the 5 years and cannot sell or refinance the building during this period without paying a penalty or the paying the entire amount of the loan back to Maine Housing. At the completion of the 5 year term the loan is forgiven and the landlord can do what he/she chooses with the building thereafter. For more information about this grant and an application please contact Rob Seavey @973-3552 or [email protected]