MHProNews has learned from sunjounal the 82 High Street housing development in Farmington, Maine received a $500,000 grant and a $540,000 loan to begin razing three apartment buildings and replace them with three modular apartment buildings. Now, the city must apply for a Community Development Block Grant (CDBG) of up to $500,000 to complete garnering of the $1.54 million needed to complete the project, which is phase three of the town’s plan.

While there is no cost to the town, voters will gather Feb. 9 at the Municipal Building to decide if they want to commit to the application, according to Town Manager Richard Davis, and then take a final vote March 28.. “These grant programs have been very effective at improving the lives of our citizens and enhancing the appearance of the community. The 82 High Street project is a great example of the success of the CDBG programs,” he said.

The existing three apartment buildings with 12 units are in such poor shape the 82 High Street development committee decided it was best to raze them instead of trying to repair them.

Each of the three new modular buildings will have four, well-insulated apartments outfitted with heat pumps, and affordable to low income families. Keiser, in Oxford, Maine is making the buildings, and selling them through Cousineau Inc. of Wilton.

The $500,000 grant came from the Federal Home Loan Bank, with assistance from Franklin Savings, which arranged the $500,000 loan.

Phase one in 2012 was to rehabilitate 17 manufactured homes, while phase two was for repairing water and sewer lines. ##

(Photo credit: sunmedia/Ann Bryant–The three buildings on the left will be razed.)

Article submitted by Matthew J Silver to Daily Business News-MHProNews.