Economic Impact Study on Housing Bill to be Released

March 23, 2009

Contact: David Loughran (207) 287-1558

AUGUSTA – On Tuesday, March 24, 2009 at 11:30 am the Maine Affordable Housing Coalition will hold a Press Conference regarding the Green Housing Initiative (LD 774). Senate President Mitchell, the initiative’s prime sponsor, will present the results of an economic impact study conducted by Professor Charles S. Colgan of the Maine Center for Business and Economic Research at the University of Southern Maine.

The report, An Analysis of the Economic Impacts of a Proposed Affordable Housing Program for Maine, assesses the economic benefits Maine will derive from the implementation of the Green Housing Initiative.

President Mitchell will be joined by members of the Coalition and their allies, including Brian Bowman of Bowman Brothers Construction, Charlie Newton, Executive Director of Penquis CAP, Erin Cooperrider, Development Director at Community Housing of Maine, Ms. Marcia Frank, who will share her search for affordable housing, and John Anton, Chair of the Maine Affordable Housing Coalition.

The initiative, LD 774, would authorize $60 million in revenue bonds over the next two years to construct new affordable housing and to renovate existing housing. It will provide housing for many Maine families who are struggling to afford a decent place to live, improve the energy efficiency of Maine’s housing stock, and stimulate the construction industry.

Tuesday, March 24, 2009 @ 11:30 am Visitors Center, 1st Floor of the Statehouse