AUGUSTA — Sen. Cameron Reny, D-Bristol, has introduced a bill that would invest in increasing affordable housing options in rural Maine communities.
LD 724, “An Act to Expand Workforce Housing in Rural Maine by Funding the Maine State Housing Authority's Rural Affordable Rental Housing Program,” was recently the subject of a public hearing before the Legislature’s Joint Select Committee on Housing.
“Our rural communities are facing an ongoing affordable housing crisis that disproportionately impacts Maine families with low to moderate incomes. This crisis affects not only the well-being of our citizens, but also the growth and stability of our local economies,” said Sen. Reny. “All Mainers deserve the opportunity to live in safe, affordable homes, and our communities deserve the chance to grow and prosper. Investing in affordable housing in rural areas has the potential to fill vacant jobs, stimulate economic growth, and preserve our communities.”
LD 724 would provide $10 million each year for the next two fiscal years to the Rural Affordable Rental Housing Program within the Maine State Housing Authority. The program funds smaller-scale developments generally between 5 to 18 units to fill a critical gap in Maine’s housing portfolio, particularly in smaller communities.
LD 724 faces further action in committee.