Chapter 1 - COMMUNITY INDUSTRIAL BUILDING PROGRAM
- § 626-1-1 - Definitions
- § 626-1-2 - Eligible Projects
- § 626-1-3 - Application Procedures
- § 626-1-4 - Community Industrial Buildings Program Administration
- § 626-1-5 - Waiver of Rule
Current through 2022-14, April 6, 2022
Summary: The Maine Rural Development Authority was created by the 120th Legislature in 2002 and funded through a bond issue. The Authority will administer the Community Industrial Buildings Program. The Community Industrial Buildings Program was created in 1973 to provide Maine communities with financial assistance for the development of speculative industrial properties. This rule defines the application process for the Program.
Basis Statement: The overall goal of the Program is to foster job creation and encourage business development in Maine with a primary focus on rural communities. In particular, the program provides loans to Local Development Corporations for construction and/or associated costs of a speculative building. The program is a non-lapsing revolving fund. The rule defines the application process for the program, the responsibilities of Local Development Corporations that receive a loan through the Program, and the terms and conditions of financial assistance the Authority may provide to Local Development Corporations, pursuant to 5 M.R.S.A., Chapter 383, Subchapter IX.
July 13, 2003 - major substantive, 2003-188 accepted for filing June 13, 2003.
Replaces 19-498 CMR ch. 10.
July 8, 2003 - Section 3.B.3.
STATUTORY AUTHORITY: 5 M.R.S.A. section13120-N(1)(D)
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