Maine Downtown Center to Participate in the Historic Commercial District Revolving Fund Program

October 9, 2019 | Maine Downtown Center to Participate in the Historic Commercial District Revolving Fund Program |
Bed Races in Skowhegan, Maine. Photo credit: Brandie Burrill Photography 

Main Street America (MSA) is pleased to announce that the Maine Downtown Center (MDC) is the next state partner to participate in the Historic Commercial District Revolving Fund (HCDRF) program.

Established in 1999, MDC currently has 10 nationally accredited Main Street Maine programs and 17 state designated Maine Downtown Affiliate programs. MDC is committed to supporting and building a sustainable economic future for its communities. Since its founding, 222 jobs have been created, 444 businesses started, and 1,030 buildings rehabilitated in Main Streets across the state. The HCDRF program will be working with three communities: Gardiner, Biddeford, and Skowhegan. Over the next three years, the Historic Commercial District Revolving fund will help Maine Downtown Center and their communities further their mission to “Catalyze. Strengthen. Guide.”

In 2016, MSA partnered with the Texas Main Street Program to launch the Façade Improvement Pilot Program, generously funded by The 1772 Foundation, Inc. This pilot program brought $80,000 in façade improvement funds to two Main Street America communities in Texas: San Augustine and Texarkana. The success of that pilot program has allowed MSA to launch a second round of revolving funds in Texas and to expand our revolving fund into more Main Street America communities.

With the Maine Downtown Center as our second state partner, the Historic Commercial District Revolving Fund will provide up to 15 small revolving loans in three Main Street America districts in Maine to support highly visible improvements to buildings and storefronts. This program will provide the Maine Downtown Center with an additional “tool” in their economic vitality toolbox and help stimulate local economies using an innovative funding mechanism.

MSA would like to thank all the applicants and everyone that has shown interest in this opportunity.

We strongly encourage everyone to please remain connected with us for future funding opportunities in support of Main Streets.