ISLAND HOUSING TRUST (IHT) CONSTRUCTED THE FIRST PHASE OF A NEW YEAR-ROUND NEIGHBORHOOD, BUILDING SIX NEW HOMES AND BEGAN PLANNING FOR THE REMAINING FOUR HOMES TO BE BUILT IN 2023. IHT BOUGHT A HOUSE IN MOUNT DESERT FROM HOMEOWNERS WILLING TO SELL THEIR HOUSE BELOW APPRAISED VALUE; IHT THEN SOLD THE IMPROVEMENTS WITH A 99-YEAR LEASE & COVENANTS TO AN ELIGIBLE HOUSEHOLD. IHT PROVIDED DOWNPAYMENT ASSISTANCE THROUGH ITS HOMEOWNERSHIP ASSISTANCE PROGRAM (HOAP), IN EXCHANGE FOR COVENANTS MAINTAINING THE AFFORDABILITY OF THE HOME, WHICH ENABLED AN ELIGIBLE HOUSEHOLD TO PURCHASE A HOME IN BAR HARBOR. AS OF DECEMBER 31, 2022 IHT HOLDS COVENANTS ON 42 HOUSES IN ALL 4 MDI TOWNS, PROVIDING HOMES FOR 119 INDIVIDUALS LIVING YEAR-ROUND ON THE ISLAND.
