AUGUSTA - The Maine House gave initial approval Tuesday to legislation sponsored by Rep. Kristen Cloutier, D-Lewiston, to expand affordable housing via group equity cooperatives.
The bill, LD 1505, would amend the Maine Cooperative Affordable Housing Ownership Act to include group equity cooperatives, which is resident-controlled housing owned by a corporation in which residents own a share of stock.
It would also provide that a housing assistance program must be made reasonably available to residents of housing cooperatives. For renters who struggle to find affordable housing, group equity cooperative housing offers an affordable, equitable solution.
"Addressing Maine's affordable housing shortage is one of our caucus' top priorities this session, and we're looking at all solutions to improve and expand affordable housing options," said Cloutier. "LD 1505 provides a solution to help meet that need in our communities by providing affordable housing options on a not-for-profit basis to people who wish to have more control over their housing choices."
LD 1505 faces further votes in the House and Senate in the coming days.
Cloutier is the Assistant House Majority Leader and is currently serving her third consecutive term in the Maine House of Representatives. She represents House District 94, which is part of her hometown of Lewiston.
Contact:
Brian Lee [Cloutier], 305-965-2744