March 2010 Archive

The Finance Authority of Maine (FAME) announces the availability of low-cost economic development financing for certain eligible projects made available through the American Recovery and Reinvestment Act of 2009 (ARRA). 

The Maine Legislature recently enacted and Governor Baldacci has signed into law important economic development legislation that will facilitate low-cost financing for eligible private and public projects state-wide.  Public Law 2009, Chapter 517, An Act to Facilitate Recovery Zone Facility Bonds, Recovery Zone Economic Development Bonds and Qualified Energy Conservation Bonds, became effective March 17, 2010. 

The legislation implements federal recovery act provisions and ensures that Maine will be able to take advantage of these one-time opportunities.  The initiatives will help Maine businesses, municipalities, counties and others access tax-exempt bond financing for economic development projects. 

FAME Chief Executive Officer Elizabeth Bordowitz stated:  “FAME is pleased to offer lower-cost financing opportunities for eligible private projects that meet the guidelines set forth by the federal government.  To be eligible to access this tax-exempt financing opportunity, projects must be ‘shovel ready’ and creditworthy, with commitments in place from underwriters, banks or others to buy the bonds once issued.”

The bill was sponsored by Senate President Libby Mitchell at the request of FAME.  The Legislature’s Business, Research, and Economic Development Committee worked closely with President Mitchell and various stakeholders, including FAME, the Baldacci administration, the Maine Municipal Bond Bank, and Maine counties to reach consensus and not miss out on this crucial economic development opportunity.  

The purpose of ARRA and the bonds is to provide immediate economic benefit and stimulus to the states.  Most of the opportunities contained in the new law expire December 31, 2010.  Along with Maine counties, FAME and the Maine Municipal Bond Bank will help facilitate these opportunities for financing economic development.  FAME and the Bond Bank will use their experience and expertise in the issuance of bonds.  FAME will help facilitate private economic development projects, while the Bond Bank will help with public projects.

Anyone interested in more information may contact FAME (for private projects) at (800) 228-3734 or (for public projects) the Maine Municipal Bond Bank at (800) 821-1113.  Additionally, interested persons may contact their local county officials for more information.  Click here for more information on this program.

Items of Interest for March 30, 2010:

Boothbay Region Elementary School wins WGME's Kid Correspondent for 2010

Final Funding Authorizations Posted

Careers of the 21st Century

Items of Interest for March 19, 2010:

FAME Staff Updates

Legislative Updates

Washington DC Updates

The Finance Authority of Maine (FAME) is displaying the work of David Clinard, a professional Maine artist specializing in photography. 

FAME Chief Executive Officer Elizabeth Bordowitz stated:  “We are proud to support and recognize Maine artists and to bring public attention to the arts and artists who enrich our society and strengthen our communities.  FAME is pleased to provide an opportunity for Maine citizens to view Mr. Clinard’s beautiful photos of various Maine scenes.” 

Clinard’s interest in photography dates back to his childhood, when he first used an old Brownie box camera.  He is mostly self-taught, with the exception of black and white photography courses he completed at the University of Maine at Augusta and Unity College.   

Clinard is interested in capturing the simple things the natural world provides so well, such as shapes, designs, colors, contrasts, and patterns.  He looks for the “thing in itself” and from that captures many beautiful images.   

FAME hopes to bring visibility to the achievements of all Maine artists by providing an opportunity to exhibit their artwork and to inspire passion about art in others. 

The public may view the Clinard exhibition Monday through Friday from 8:00 a.m. to 5:00 p.m. The FAME building is located at 5 Community Drive, Augusta, Exit 112 off 95.  The exhibit is open to the public until the middle of April, with a reception on Thursday, March 25, from 5 to 7 p.m.    

To learn more about FAME art exhibits and openings, or if you are an artist who would like to have your work considered for exhibition, please contact FAME at 1-800-228-3734.

Items of Interest for March 5, 2010:

Response to Bangor Daily News Editorial

Governor Baldacci Nominates New Appointments to the FAME Board

Harold Alfond College Challenge - Casting Calls in Waterville and Portland