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Community Land Trusts: Permanently Affordable, Resident-Controlled Housing, Fred Stocking
Community Land Trusts: Permanently Affordable, Resident-Controlled Housing, Fred Stocking
Maine Policy Review
Since 1997 Maine has enjoyed one of the highest levels of home ownership in the country. As Fred Stocking points out, homeownership contributes to community stability and provides a sense of security to families. Yet not all of Maine families are able to achieve their dream of homeownership. Community Land Trusts (CLTs) represent an attempt to build community and solve an affordable housing problem for Maine’s low-income residents. CLTs are non-profit organizations that require the joint involvement of residents and non-residents in the housing development and management, and resale price restrictions that keep the housing affordable indefinitely. In this article …
Ten Years Of Affordable Housing Policy: Is Maine Making Progress-- A Symposium, Elizabeth H. Mitchell, Dennis P. King, James B. Hatch, Jay Hardy
Ten Years Of Affordable Housing Policy: Is Maine Making Progress-- A Symposium, Elizabeth H. Mitchell, Dennis P. King, James B. Hatch, Jay Hardy
Maine Policy Review
In December 1987 Governor McKernan appointed a 30-member, statewide task force to address the issue of affordable housing in Maine. The task force was charged with investigating the quality and cost of affordable housing for lower- and middle-income families, and recommending a set of actions to improve the quality of existing housing as well as to increase the supply of housing. In September 1998 the Task Force issued a report that prescribed a number of local and regional—as well as private and public—solutions to the problem of affordable housing. More than ten years later Maine housing advocates note that the …
A Challenge For The Next Decade: Preserving Affordable Rental Housing, Laura Burns
A Challenge For The Next Decade: Preserving Affordable Rental Housing, Laura Burns
Maine Policy Review
Many of Maine’s low-income families and elderly residents have been able to secure affordable housing with help from a Section 8 certificate, which allows residents to pay no more than 30 percent of their income toward rent and ensures the federal government will make up the difference. Over the years, much of the development of Section 8 housing projects has been assisted by financial incentives and agreements between private and non-profit owners and the federal government. Yet recent changes in federal legislation remove many of these incentives and the agreements that go with them. As a result, some of Maine’s …
Funding Maine’S Mortgage Market (Or, Who Sets Mortgage Rates, Anyway?), Chris Pinkham
Funding Maine’S Mortgage Market (Or, Who Sets Mortgage Rates, Anyway?), Chris Pinkham
Maine Policy Review
Some have argued that the state of Maine sits in a far away corner of the nation’s transportation system, and others feel that map makers have slighted our state in terms of its northern and eastern boundaries to accommodate large, flat maps of the country. Maine’s mortgage market may well be the opposite situation as both rates and a bank’s funding sources are not uniquely positioned as transportation or cartography may be. Rather, the mortgage business is part of a complex web of international markets that, for all practical purposes, has taken rate-setting away from Maine lenders and provided Maine …