Islesboro residents have a new source of support in their efforts to sustain their year-round community. On August 5, the Islands Challenge Fund announced its first grant — a $25,000 challenge grant to Islesboro Affordable Property for the construction of a duplex that will provide permanent rental housing for two moderate income families on the island.
Changes in the economy and skyrocketing real estate prices have made it increasingly difficult for working families to preserve a foothold on Maine’s islands with year-round communities. On Islesboro, seasonal residents are purchasing houses previously owned by year-round islanders, driving up prices and leaving fewer houses available for year-round rentals.
Eighty-six percent of island workers who responded to a recent survey indicated that housing on the island is a problem for low and moderate-income families. “The sustainability of our year-round community is threatened by our lack of workforce housing for our teachers, town employees, fire and ambulance personnel,” stated Joan Lillie, President of Islesboro Affordable Property.
The challenge grant from the Islands Challenge Fund was made to help Islesboro Affordable Property leverage local funding for construction of the duplex. Disbursement of the $25,000 grant is contingent upon Islesboro Affordable Property raising an additional $25,000 from island sources as a match. Board members have launched a capital campaign and hope to have their local match in hand by the end of the summer. “We’ve got our work cut out for us, but this is an exciting opportunity to build our capacity to address the island’s housing needs at a crucial period in Islesboro’s history,” continued Lillie.
Grants from the Islands Challenge Fund are available to support housing and community facility projects aimed at stabilizing the year-round communities on Maine’s islands. “The Islands Challenge Fund was established to help bridge the funding gap that island projects often face between funds that can be raised from other sources and the money needed to make a project happen,” commented Liza Fleming-Ives, Islands Challenge Fund Staff Coordinator and Associate Director of the Genesis Community Loan Fund.
A nine-member grants committee, including residents of North Haven, Islesford, Chebeague, Islesboro and Monhegan, and representatives from the Genesis Community Loan Fund, Island Institute, Maine Sea Coast Mission and Maine Community Foundation, make funding decisions three times a year.
Funds are available to assist with the acquisition, construction, predevelopment, or rehabilitation costs associated with new island housing projects or community facility initiatives that will provide new or expanded services to year-round island residents.
For more information on the Islands Challenge Fund or to inquire about submitting a proposal, contact Liza Fleming-Ives at 207-563-6073 or visit www.genesisfund.org.