July 6, 2017 — The Marble Block Redevelopment Corporation, in partnership with Engine, announces a pre-development loan through the Genesis Community Loan Fund, based in Brunswick, Maine. This loan will allow the Marble Block Redevelopment to complete engineering/design work and a fundraising feasibility study in spring 2018.
The Genesis Community Loan Fund provides innovative financing by soliciting investment loans from individuals, churches, corporations, and foundations, and then re-lending the money at favorable terms to nonprofit organizations developing affordable housing and community facilities for underserved people and communities throughout Maine. A certified Community Development Financial Institution, the Genesis Fund helps some of Maine’s most vulnerable populations: single parents and their children, low income working families, the elderly, homeless individuals, and people with disabilities. The Genesis Fund also provides substantial technical assistance to nonprofit organizations across the state by helping them access state, federal, and private funding to support their work.