Collaboration Preserves Affordable Housing for Rural Maine Families

Used with permission by the Genesis Community Loan Fund.

Former property owners, Lester and Deborah Hersey standing outside of the property. Photo courtesy of Genesis.

Twelve apartments in Mapleton, Maine, in Aroostook County, have been affordable homes for older adult families for decades, thanks to the USDA’s Section 515 Rural Rental Housing Program. But with the longtime property owner preparing to retire, the homes were at risk of being sold and leaving the program, making rents unaffordable and potentially forcing residents to leave the community where they’ve lived for years.

Collaboration made a big difference. 

With financing and guidance from the Genesis

Community Loan Fund, the Presque Isle Housing Authority has acquired the multifamily property, keeping it in the USDA program and ensuring it remains affordable.

Made possible through a partnership of Genesis and USDA Rural Development, guiding this transfer is part of Genesis’ broader effort to preserve Maine’s affordable rural housing.

What’s Next?

• Presque Isle Housing Authority will rehabilitate the property to improve safety and quality of life for residents.
• Maine’s Affordable Housing Tax Credit will help fund these essential upgrades.

As Governor Janet Mills put it: “This partnership will help a dozen Aroostook County families stay in their homes safely and affordably, in the place they have set down roots and lived with dignity and comfort. I’m proud the Maine Affordable Housing Tax Credit program, which I signed into law with bipartisan support from the Maine Legislature, continues to make these projects possible in rural areas across our state, and I applaud Genesis, the Presque Isle Housing Authority, and the USDA for working together to preserve these affordable homes for decades to come.”

With many USDA-financed 515 properties across Maine, this type of collaboration is more important than ever. Says Genesis Executive Director Liza Fleming-Ives, “Public housing authorities and other nonprofits are stepping up, understanding the critical need to preserve existing affordable housing.”

If you’re a Section 515 property owner, Genesis may be able to help you ensure the properties you’ve maintained continue to provide stable, affordable homes.

Article originally published on February 11, 2025, https://genesisfund.org/news/collaboration-led-by-genesis-preserves-affordable-housing-in-rural-maine/