Justin Chenette
  • Bio
  • Commissioner
  • State Govt
  • Projects
    • Speaker
    • Author
    • Consulting Firm
    • Age Friendly Saco
    • Southern Maine Planning & Development Commission
  • Scholarships
  • News
  • Contact

Chenette bill helps startup businesses revitalize downtowns

4/27/2017

0 Comments

 
Picture
​AUGUSTA — A bill by Sen. Justin Chenette, D-Saco, would encourage revitalization of Maine downtowns by establishing a forgivable loan for startup businesses to create jobs.
 
The bill — LD 1343, “An Act To Promote Downtown Revitalization by Creating the Locating Businesses Downtown Loan Program” — received a public hearing before the Labor, Commerce, Research and Economic Development Committee on Wednesday.

Picture
The Communities For Maine’s Future Program, or CMF is part of a $25 million bond approved by voters in 2010, and provides competitive grants to municipalities for community development projects. Sen. Chenette’s bill creates the Locating Business Downtown Loan Program within the CMF, designed to provide forgivable loans to businesses looking relocate to a downtown area, village area or along a main street.
 
“When the downtown in a particular area does well and is vibrant, local municipalities get increased revenues which helps stabilize local tax rates beyond providing jobs to local residents,” said Sen. Chenette, who also sits on the City of Saco’s downtown development organization, Saco Main Street. “This bill provides key supports mechanisms and incentives for new startup businesses to increase economic development and create much needed jobs in our downtown communities.”

Picture
The bill is partly based on the Main Street Challenge, a local program launched in Biddeford that provides funds and assistance to new business ventures to help them with startup costs throughout their first year.
 
The executive director of GrowSmart Maine, Nancy Smith, spoke in favor of the bill at the public hearing.
 
“Downtown revitalization creates jobs, makes downtowns more attractive places to live, promotes energy efficiency and helps to preserve open space,” said Smith. “It makes good sense to add to the CMF program a dimension beyond the structures and infrastructure to assist business owners wanted to relocate in the downtown.”
 
LD 1343 faces further action in the Labor, Commerce, Research and Economic Development Committee and votes in the House and Senate.

0 Comments



Leave a Reply.

    Latest Updates


    Archives

    July 2022
    June 2022
    March 2022
    September 2021
    July 2021
    May 2021
    January 2021
    August 2020
    May 2020
    March 2020
    January 2020
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    April 2016
    March 2016
    January 2016
    December 2015
    October 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    October 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012

    Categories

    All

    RSS Feed

    RSS Feed

Picture
Email:
justinchenette@gmail.com
Paid for & Authorized by Justin Chenette
  • Bio
  • Commissioner
  • State Govt
  • Projects
    • Speaker
    • Author
    • Consulting Firm
    • Age Friendly Saco
    • Southern Maine Planning & Development Commission
  • Scholarships
  • News
  • Contact