The Islands Challenge Fund, a collaborative effort of the Genesis Community Loan Fund, the Island Institute, Maine Community Foundation, the Maine Seacoast Mission and several island residents, will make challenge and matching grants from $5,000 to $25,000 for affordable housing and community facility projects.
Chebeague island resident Pommy Hatfield, member of its advisory committee, commented that the fund “offers significant support to leaders on Maine islands who are involved in creative solutions to challenges facing their small isolated communities.”
The Fund was developed in response to escalating property values and limited access to public funds for island-based projects.
The fund is designed to leverage new resources for island communities and serve as a catalyst for housing and community facility projects. “Based on our work with island communities we knew that the need for additional funding support for island projects was great. We hope we can continue to grow the Islands Challenge Fund and provide more support in the future,” commented Beth McPherson, Executive Director of the Genesis Fund.
Island groups interested in applying to the Islands Challenge Fund should contact the Genesis Fund at 207-563-6073 before submitting a formal request.
The Genesis Fund, a nonprofit community development loan fund that provides loans and technical expertise for vital housing and community facilities projects throughout Maine, has taken the lead in working with prospective applicants to ensure that projects meet the Fund’s guidelines. Grant decisions will be made three times a year and proposals can be submitted at any time.
For more information on the Islands Challenge Fund or to discuss a potential project please contact Liza Fleming-Ives at 207-563-6073 or visit www.genesisfund.org.