Tax credits to improve affordable housing in Maine
WATERVILLE, Maine (AP) — An independent state authority that deals with housing issues in Maine says it has been awarded nearly $4 million in federal low-income housing tax credits for several projects in the state.
MaineHousing director Daniel Brennan says the tax credits are an important way to spur development of affordable housing in the state. The projects are in Portland, South Portland, Bangor and Waterville.
MaineHousing says the tax credits will generate more than $37 million from private investors. That money, along with $3 million more from MaineHousing, is expected to create or preserve 317 housing units.
One of the projects is the first phase of the redevelopment of a historic textile mill in Waterville. Another is the preservation of public housing units in Portland.