Maine Affordable Housing Bond (2001)
From Ballotpedia
Maine Question 1 was on the November 6, 2001 election ballot in Maine as a legislatively-referred state statute where it was approved.
Question 1 authorized a $12 million bond for public housing construction and housing for victims of domestic violence.
- Yes: 128,026 (58.5%)
- No: 90,753 (41.5%)
Text of the proposal
The question asked on the ballot was, "Do you favor a $12,000,000 bond issue to provide: (1) The sum of $10,000,000 to address the affordable housing crisis in Maine; and (2) The sum of $2,000,000 to provide housing for victims of domestic violence?"
This Act would authorize the State to issue bonds in an amount not to exceed $12,000,000 to raise funds for the Maine State Housing Authority to address the affordable housing crisis and to provide housing for victims of domestic violence. The bonds would run for a period not longer than 10 years from the date of issue and would be backed by the full faith and credit of the State.
The Maine State Housing Authority would be authorized to expend up to $10,000,000 of the proceeds of the sale of these bonds to renovate or replace affordable rental apartments and homes, provide housing for people who are homeless and for consumers of mental health services, reduce the costs of acquiring land for the development of new affordable housing, and provide predevelopment costs to assist nonprofit housing organizations. The remaining $2,000,000 of bond proceeds would be targeted to providing housing to victims of domestic violence.
If approved, the bond authorization would take effect 30 days after the Governor's proclamation of the vote.
A "YES" vote approves the authorization of a $12,000,000 bond issue to finance affordable housing projects and to provide housing for victims of domestic violence.
A "NO" vote disapproves the bond issue.
Total estimated life time cost is $15,250,500 representing $12,000,000 in principal and $3,250,500 in interest (assuming interest at 4.93% over 10 years).
External links
- Guide to the 2001 Maine ballot measures
- Ballot questions with vote totals
- Election results by county
- Website of the Maine State Housing Authority
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