Mount Desert 365

Commercial revitalization - the Corporation engaged in activities to help promote the restoration and revitalization of the town's commercial district. The Corporation has acquired and developed commercial properties for rental on affordable terms to businesses that will operate year-round and provide products and services to serve the year-round residential community, and will continue to do so. Other options for revitalizing the town's commercial district include implementing options similar to those discussed in Part III, 4b for providing and preserving affordable workforce housing in order to preserve affordable commercial district space. The anchor tenant of our initial building is a not-for-profit entity bringing personnel and commerce to the town consistent with our mission. We leased land to College of the Atlantic upon which they constructed a building which includes commercial operations and student housing on a year-round basis.

Residential revitalization - the Corporation aims to increase the supply of affordable workforce housing to year-round residents while ensuring that such housing will stay affordable in the future, and thus remain workforce housing perpetually. The Corporation will conduct the program in such a way that the supply of workforce housing remains available to the workforce and cannot be acquired by summer residents for use as seasonal homes. Currently, three properties are rented to year-round tenants, and one property has been sold under workforce housing covenants in conjunction with Island Housing Trust. During 2023, plans for properties to be constructed and/or reconditioned for the purposes described were further developed and are progressing through the approval processes.