Maine § 30-A §5953-D Assistance from Municipal Investment Trust Fund

Maine Statutes

§ 30-A §5953-D — Assistance from Municipal Investment Trust Fund

Maine·Title 30-A MUNICIPALITIES AND COUNTIES·Part 2 MUNICIPALITIES·Ch. 225 MAINE MUNICIPAL BOND BANK

1.Application for public service infrastructure grants and loans. In addition to the other forms of financial assistance available under section 6006‑D, an eligible municipality or group of municipalities may apply for a public service infrastructure grant or loan from the Municipal Investment Trust Fund, in this section called the "fund," the proceeds of which must be used to acquire, design, plan, construct, enlarge, repair, protect or improve public service infrastructure owned by the applicant. 1-A. Application for downtown improvement grants and loans. In addition to the other forms of financial assistance available under section 6006‑D, an eligible municipality or group of municipalities may apply for a downtown improvement grant or loan from the fund, the proceeds of which must be

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1.
Application for public service infrastructure grants and loans.
In addition to the other forms of financial assistance available under section 6006‑D, an eligible municipality or group of municipalities may apply for a public service infrastructure grant or loan from the Municipal Investment Trust Fund, in this section called the "fund," the proceeds of which must be used to acquire, design, plan, construct, enlarge, repair, protect or improve public service infrastructure owned by the applicant.
1-A.
Application for downtown improvement grants and loans.
In addition to the other forms of financial assistance available under section 6006‑D, an eligible municipality or group of municipalities may apply for a downtown improvement grant or loan from the fund, the proceeds of which must be used to acquire, design, plan, construct, enlarge, repair or protect downtown improvements.
2.
Loan; loan agreements.
Loans from the fund are subject to this subsection.
3.
Eligibility certification.
The bank may not make a grant or loan to a municipality or group of municipalities under this section until:
4.
Criteria; conditions for public service infrastructure grants and loans.
The Department of Economic and Community Development, in conjunction with the bank, shall develop criteria and conditions for the award of public service infrastructure loans and grants to eligible municipalities subject to the requirements of this section. The department shall:
4-A.
Criteria; conditions for downtown improvement grants or loans.
The Department of Economic and Community Development, in conjunction with the bank, shall develop criteria and conditions for the award of downtown improvement grants or loans to eligible municipalities after consultation with the state agencies listed in subsection 5 and subject to the requirements of this section. The department shall establish a preference for municipalities that are regional service centers or urban compact municipalities or have adopted a comprehensive plan consistent with section 4326.
5.
Coordination.
The bank shall coordinate the loans and grants made under this section with all other community assistance loans and grants administered by the Department of Economic and Community Development and with other state assistance programs designed to accomplish similar objectives, including those administered by the Department of Education, the Department of Transportation, the Finance Authority of Maine, the Maine State Housing Authority, the Maine Historic Preservation Commission, the Department of Administrative and Financial Services, the Department of Agriculture, Conservation and Forestry and the Department of Environmental Protection.
6.
Municipal Capital Investment Advisory Commission.
7.
Report to the Legislature.
The bank shall report to the joint standing committee of the Legislature having jurisdiction over natural resource matters no later than January 1st of each odd-numbered year on the loans and grants program. The bank may make any recommendations it finds necessary to more effectively achieve the purposes of this section, including the appropriation of any necessary additional funds.

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Legislative History

RR 1993, c. 2, §27 (RNU). PL 1993, c. 721, §D3 (NEW). PL 1993, c. 721, §H1 (AFF). RR 1999, c. 2, §34 (COR). PL 1999, c. 668, §117 (AMD). PL 1999, c. 776, §13 (AMD). PL 2001, c. 90, §§4,5 (AMD). PL 2001, c. 406, §16 (AMD). PL 2001, c. 621, §1 (AMD). PL 2001, c. 667, §A49 (AMD). PL 2003, c. 288, §§1-3 (AMD). PL 2011, c. 655, Pt. JJ, §§27, 28 (AMD). PL 2011, c. 655, Pt. JJ, §41 (AFF). PL 2011, c. 657, Pt. W, §5 (REV). PL 2025, c. 388, Pt. D, §41 (AMD). PL 2025, c. 393, §45 (AMD).