Application Period Open for Dam Repair and Reconstruction Revolving Loan Program

 

August 7, 2015

 

Maine Emergency Management Agency’s Dam Safety Program has announced that the application period for its Dam Repair and Reconstruction Revolving Loan Program is open through October 15th, 2015.

This loan program allows municipalities and quasi-municipal corporations looking to study, repair or replace a municipally or quasi-municipally owned dam to apply for up to $100,000 in low interest loans in order to fulfill such needs. This program is made possible through the Dam Repair and Reconstruction Fund, established by the Legislature for municipalities to use for various projects related to dam reconstruction.

The loans are administered by the Maine Municipal Bond Bank. However, MEMA’s approval is necessary in order for the MMBB to consider a loan request under this program.

Applications will be reviewed by MEMA’s Dam Safety Program, and ranked according to:

  1. Hazard potential of the dam;
  2. Condition of the dam; and
  3. Risk of failure.

Successful applicants may then apply to the Maine Municipal Bond Bank for a Dam Repair loan. The application does not commit the applicant to a loan request.

Application packages are due to MEMA by October 15th, 2015. Application documents are available here:

Submit applications to:

Maine Emergency Management Agency
Attn: Dam Safety Program
72 State House Station
Augusta, Maine 04333-0072

For more information or technical assistance, contact Mark Hyland at MEMA, 1-800-452-8735 or mark.hyland@maine.gov

 

Contact:

Mark Hyland
800-452-8735
mark.hyland@maine.gov