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FOR IMMEDIATE RELEASE

June 4, 2009

CONTACT: Ed Gilman, 202-225-6306

Michaud Announces Release of Major Affordable Housing Funds for Houlton, Bangor and Augusta

WASHINGTON, DC - Today, Congressman Mike Michaud announced that the U.S. Department of the Treasury is awarding $4,142,789 to the Maine State Housing Authority.  The overall purpose of the funding is for the construction or acquisition and rehabilitation of housing for low-income families and individuals. Maine is one of 5 states receiving funding from the American Recovery and Reinvestment Act (H.R.1) to spur the development of affordable housing.

"This funding will not only create affordable housing opportunities when Mainers need it most, but it will also create hundreds of new construction and non-construction jobs," said Michaud.  "With the overall decrease in housing construction, our country has experienced severe job loses in the building and trades sector.  At the same time, we have seen the demand for affordable housing increase.  This funding represents an important investment in our state and will help address both of these challenges."

According to the Maine State Housing Authority, the funding announced today will go to three projects in Maine.  The Greentree Project in Augusta will receive $2.3 million, creating an estimated 75 jobs.  The work to be done includes: site work - paving and improving accessibility to site office and laundry facility; increasing the number of handicapped units; fire alarms sprinklers; and new flooring, cabinets, appliances, and bath fixtures.

The balance of the funding announced today will be going to projects in Bangor and Houlton.  One project, Bangor Senior Housing, is new construction of 54 units across from Edward Muskie Federal Building (an $11.2 million project), which is expected to create150 jobs.  The other project is Market Square Commons in Houlton, which is the new construction of 28 units (a $4.6 million project).  This project represents the first new construction of affordable housing in Aroostook County in 15 years and is expected to create 100 jobs.

The funds announced today are the second round in a series of awards based on a rolling application process.  The Treasury Department anticipates making similar announcements in the coming weeks. 

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