Return-Path: <ESC1101771422113_1101291778782_209@in.constantcontact.com> Received: from rly-mf09.mail.aol.com (rly-mf09.mail.aol.com [172.20.29.179]) by air-mf05.mail.aol.com (v119.9) with ESMTP id MAILINMF051-98246ded402d4; Wed, 05 Sep 2007 12:07:22 -0400 Received: from ccm15.constantcontact.com (ccm15.constantcontact.com [66.151.234.152]) by rly-mf09.mail.aol.com (v119.9) with ESMTP id MAILRELAYINMF098-98246ded402d4; Wed, 05 Sep 2007 12:06:26 -0400 Received: from ws002 (unknown [10.250.0.101]) by ccm15.constantcontact.com (Postfix) with ESMTP id 520C0D0683 for <mlongreene2@aol.com>; Wed, 5 Sep 2007 12:06:26 -0400 (EDT) Message-ID: <1101771422113.1101291778782.209.2.4111552E@scheduler> Date: Wed, 5 Sep 2007 12:06:43 -0400 (EDT) From: The Genesis Fund <info@genesisfund.org> Reply-To: heidi@genesisfund.org To: mlongreene2@aol.com Subject: The Lending Hand e-newsletter Mime-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_Part_9037462_717243532.1189008403689" X-Mailer: Roving Constant Contact 0 (http://www.constantcontact.com) List-Unsubscribe: http://visitor.constantcontact.com/d.jsp?p=un&m=1101291778782&se=209&k=197281109&t=1101771422113 X-Return-Path-Hint: ESC1101771422113_1101291778782_209@in.roving.com X-Roving-ID: 1101291778782.209 X-Lumos-SenderID: 1101291778782 X-Roving-CampaignId: 1101771422113 X-Roving-StreamId: 0 X-AOL-IP: 66.151.234.152 X-AOL-SCOLL-AUTHENTICATION: listenair ; SPF_helo : X-AOL-SCOLL-AUTHENTICATION: listenair ; SPF_822_from : Content-Transfer-Encoding: 7bit ------=_Part_9037462_717243532.1189008403689 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 7bit September 2007 What's New at Genesis ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Genesis Fund launches the Elizabeth McPherson Permanent Capital Fund Chebeague Island Community Association fast tracks home purchase Gorham Savings Bank invests $100,000 in the Genesis Fund ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ MaineShare's Annual Hike and Bike Fundraiser - Sept. 9th, Bradbury Mountain State Park, Pownal - http://rs6.net/tn.jsp?t=bnodldcab.0.slzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.maineshare.org Camden Affordable Housing Asso. gets green light for project from Knox Co. Superior Court - http://rs6.net/tn.jsp?t=bnodldcab.0.tlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fknox.villagesoup.com%2FGovernment%2Fstory.cfm%3FstoryID%3D98900 Today's news about affordable housing in the U.S. - http://rs6.net/tn.jsp?t=bnodldcab.0.lbiwkvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org%2Ftodaysnews.htm Join our mailing list! http://visitor.constantcontact.com/d.jsp?p=oi&m=1101291778782 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The Lending Hand e-Newsletter The Genesis Fund Our mission is to help Maine nonprofit groups working to create affordable housing and other economic and social opportunities in their communities by offering innovative financing, expert assistance, and help in leveraging other sources of funding. Genesis Fund launches the Elizabeth McPherson Permanent Capital Fund To honor her careful nurture and growth of the Genesis Community Loan Fund during her 14-year tenure as Executive Director, the Board of Directors has created the Elizabeth McPherson Permanent Capital Fund. Beth McPherson led the organization from 1993 until her retirement in June when Bill Floyd, previously Director of Housing of the Portland-based Shalom House and former Genesis Fund board member and president, joined the staff. With $4.3 million in its lending pool, the Genesis Fund's current permanent capital - primarily derived from three large grants from the federal CDFI Fund - stands at $1 million. The remaining $3.3 million available for lending is comprised of investment loans from individuals, banks, churches and private foundations. "The more funds permanently placed in our lending pool the greater capacity we will have to serve Maine communities most in need. With permanent funds, we are freer to be innovative and flexible with terms, rates, and other considerations than we are when making a loan from a pool of capital primarily comprised of investors' funds." said Joanne Campbell, Genesis Fund president and Senior Vice President at Camden National Corporation. "Also, as the Elizabeth McPherson Permanent Capital Fund grows - together with our already strong pool of investor funds - we will be able to make more loans, which is what the Genesis Fund is in business to do," said Campbell. "Already in this fiscal year we've experienced an increasing number of requests and inquiries. The Genesis Fund is poised to have its biggest lending year ever." Executive Director Bill Floyd explained, "This is a natural time for the Genesis Fund to start to focus on building permanent capital. Many community development revolving loan funds across the country of similar size and mission begin to grow significantly at this plateau. Beth led the Genesis Fund from its earliest years with such responsible care and thoughtfulness; naming the permanent capital fund after her is a fitting and lasting way to honor her remarkable achievement. With such a firm financial foundation and a rock solid reputation, the Genesis Fund is poised to continue to grow into its mission to assist Maine's communities and individuals in need." When asked about having a fund named in her honor, Beth McPherson said, "It's wonderful to have my name associated with dollars that can be lent at a very low interest rate and repayment can be stretched out for a long period of time." For more information about how to contribute to the Elizabeth McPherson Permanent Capital Fund, please contact Heidi Shott (mailto:heidi@genesisfund.org) by email or at 207.563.6073. More information about the Fund will also be available in future editions of the e-Lending Hand and at www.genesisfund.org (http://rs6.net/tn.jsp?t=bnodldcab.0.ekhqcvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org) in coming weeks. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Chebeague Island Community Association fast tracks home purchase the right property, the right funding and a motivated group In mid-June members of the Chebeague Island Community Association (CICA) were in the middle of their first affordable housing venture - working to purchase a year-round home to lease to an income-eligible island family - a complex process to say the least. They were waiting for confirmation of CICA's nonprofit status, hoping for approval from the Genesis Fund for a $197,000 acquisition loan with $45,000 in grant awards to support the pending purchase. If approved, the conditions of the Islands Challenge Fund grant would require them to raise $25,000 in matching funds. Many things needed to happen by July 31 when the group's option to purchase a three-bedroom village home was up. Exactly eight weeks later, CICA, a newly certified 501(c)(3) organization, was the recipient of a $20,000 grant from the Island Institute's Affordable Coast Fund and a $25,000 grant from the Genesis Fund-administered Islands Challenge Fund. CICA members secured a commitment of $25,000 in pledges from community residents to match grant funds and the Genesis Fund acquisition loan was approved. Suddenly the way was clear to purchase the three-bedroom, single family house in the village center. As of August 9th, CICA, a volunteer organization formed in 2005 to work toward secession from Cumberland now focused on ensuring the viability of Chebeague as a year-round community, was the proud owner of its first property. The group, according to Beth Howe, chair of CICA's Housing Committee, is working to establish tenant-eligibility guidelines and plans to rent the home, beginning this fall, at an affordable price for two years. After two years CICA will decide whether to keep it as a rental unit or sell it to an income-eligible family. As on many of Maine's offshore islands, Chebeague's middle-income residents are often priced out of the homebuyer's market. With the successful completion of their first project, the people of Chebeague are off to a great start to work, home by home, to fix the problem. more about Chebeague Island - http://rs6.net/tn.jsp?t=bnodldcab.0.vlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.chebeague.org ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Gorham Savings Bank invests $100,000 in the Genesis Fund In August Gorham Savings Bank made a $100,000.00 investment in the Genesis Community Loan Fund to assist communities throughout Maine in developing affordable housing and economic and social opportunities that benefit some of the State's most vulnerable populations. Gorham Savings joins eight other Maine lending institutions in supporting the work of the Genesis Fund by making low-interest investment loans that comprise the bulk of the Fund's $4.3 million lending pool. According to Daniel Hunter, Chief Operating Officer at Gorham Savings, "An investment in the Genesis Fund helps our ability to impact communities at a local level in a way we can't do through traditional lending channels. Working with the Genesis Fund is a powerful way to make that important contribution to Maine communities." In addition to its investment with the Genesis Fund, Gorham Savings, an independent community bank since 1868, demonstrates its commitment to housing for the elderly, low-income, disabled and disadvantaged by supporting the Maine Housing Investment Fund, the Westbrook Housing Authority, the People's Regional Opportunity Program, and Habitat for Humanity. Welcome aboard, Gorham Savings! More about Gorham Savings Bank - http://rs6.net/tn.jsp?t=bnodldcab.0.xlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.gorhamsavingsbank.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Questions about The Genesis Fund? What are the borrowing criteria? How can I invest in The Genesis Fund? Can our organization receive technical assistance? Please visit our website at www.genesisfund. org (http://rs6.net/tn.jsp?t=bnodldcab.0.ekhqcvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org) or email Executive Director Bill Floyd (mailto:bill@genesisfund.org) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Genesis Community Loan Fund Email:info@genesisfund.org Phone:207.563.6073 Fax:207.563.6055 www.genesisfund.org (http://rs6.net/tn.jsp?t=bnodldcab.0.ekhqcvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Forward email http://ui.constantcontact.com/sa/fwtf.jsp?m=1101291778782&ea=mlongreene2%40aol.com&a=1101771422113 This email was sent to mlongreene2@aol.com, by info@genesisfund.org Update Profile/Email Address http://visitor.constantcontact.com/d.jsp?p=oo&m=1101291778782&se=209&t=1101771422113&lang=en&reason=F Instant removal with SafeUnsubscribe(TM) http://visitor.constantcontact.com/d.jsp?p=un&m=1101291778782&se=209&t=1101771422113&lang=en&reason=F Privacy Policy: http://ui.constantcontact.com/roving/CCPrivacyPolicy.jsp Genesis Community Loan Fund | 26 Water Street | P.O. Box 609 | Damariscotta | ME | 04543 ------=_Part_9037462_717243532.1189008403689 Content-Type: text/html; charset=iso-8859-1 Content-Transfer-Encoding: 7bit <head > <title >The Lending Hand e-newsletter</title></head> <body bgcolor="#FFFFFF" style="BACKGROUND-COLOR: #FFFFFF;MARGIN: 10px;" ><!--Copyright (c) 1996-2006 Roving Software Incorporated d/b/a Constant Contact. All rights reserved. Except as permitted under a separate written agreement with Constant Contact, neither the Constant Contact software, nor any content that appears on any Constant Contact site, including but not limited to, web pages, newsletters, or templates may be reproduced, republished, repurposed, or distributed without the prior written permission of Constant Contact. 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background="http://ih.constantcontact.com/fs093/1101291778782/img/3.jpg?a=1101771422113" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: no-repeat;" > <br /><br /><br /><br /><br /> <table border="0" cellpadding="0" cellspacing="0" width="100%" > <tr > <td align="right" background="" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: repeat;PADDING-LEFT: 10px;PADDING-RIGHT: 10px;" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="2" style="COLOR: #FFFFFF;FONT-SIZE: 10pt;FONT-WEIGHT: bold;FONT-FAMILY: Arial,Helvetica,sans-serif;" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="1" style="font-family:Arial,Helvetica,sans-serif;font-size:8pt;font-style:normal;font-weight:bold;color:#FFFFFF;" ><br><br><br><br></font> </font> <br /> </td> </tr> </table> </td> </tr> </table> <table border="0" cellpadding="5" cellspacing="0" width="600" > <tr bgcolor="#FFFFFF" style="PADDING: 3px;BACKGROUND-COLOR: #FFFFFF;" > <td align="right" colspan="2" rowspan="1" > <font color="#000000" face="Arial,Helvetica,sans-serif" size="2" style="COLOR: #000000;FONT-SIZE: 10pt;FONT-WEIGHT: bold;FONT-FAMILY: Arial,Helvetica,sans-serif;" > September 2007 </font> </td> </tr> <tr > <td bgcolor="#FFFFFF" colspan="1" rowspan="1" style="BACKGROUND-COLOR: #FFFFFF;" valign="top" > <table bgcolor="#9A5973" border="0" cellpadding="1" cellspacing="0" style="BACKGROUND-COLOR: #9A5973;" width="175" > <tr > <td align="center" colspan="1" rowspan="1" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Arial,Helvetica,sans-serif;FONT-SIZE: 11pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #FFFFFF;" > What's New at Genesis </font> </td> <td background="http://img.constantcontact.com/letters/images/newsletters_crisp2_rounded.gif" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: no-repeat;BACKGROUND-POSITION: top right;" width="12" >&nbsp;</td> </tr> <tr > <td colspan="2" rowspan="1" > <table border="0" cellpadding="3" cellspacing="0" width="100%" > <tr bgcolor="#FFFFFF" style="BACKGROUND-COLOR: #FFFFFF;" > <td align="left" colspan="1" rowspan="1" valign="top" > <font color="#0000CC" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #0000CC;TEXT-DECORATION: none;" > <ul style="LIST-STYLE: none;PADDING: 5px;MARGIN: 0px;" > <li style="PADDING-BOTTOM: 10px;" ><a color="#0000CC" face="Verdana,Geneva,Arial,Helvetica,sans-serif" href="#article1" shape="rect" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #0000CC;TEXT-DECORATION: none;">Genesis Fund launches the Elizabeth McPherson Permanent Capital Fund</a></li> <li style="PADDING-BOTTOM: 10px;" ><a color="#0000CC" face="Verdana,Geneva,Arial,Helvetica,sans-serif" href="#article2" shape="rect" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #0000CC;TEXT-DECORATION: none;">Chebeague Island Community Association fast tracks home purchase</a></li> <li style="PADDING-BOTTOM: 10px;" ><a color="#0000CC" face="Verdana,Geneva,Arial,Helvetica,sans-serif" href="#article3" shape="rect" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #0000CC;TEXT-DECORATION: none;">Gorham Savings Bank invests $100,000 in the Genesis Fund</a></li> </ul> </font> </td> </tr> </table> </td> </tr> </table> <br /> <table bgcolor="#9A5973" border="0" cellpadding="1" cellspacing="0" style="BACKGROUND-COLOR: #9A5973;" width="100%" > <tr > <td align="center" colspan="1" rowspan="1" > <font color="#0066CC" face="Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Arial,Helvetica,sans-serif;FONT-SIZE: 11pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #0066CC;" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="2" style="font-family:Arial,Helvetica,sans-serif;font-size:11pt;font-style:normal;font-weight:bold;color:#FFFFFF;" >Interesting Links</font> </font> </td> <td background="http://img.constantcontact.com/letters/images/newsletters_crisp2_rounded.gif" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: no-repeat;BACKGROUND-POSITION: top right;" width="12" >&nbsp;</td> </tr> <tr > <td colspan="2" rowspan="1" > <table bgcolor="#FFFFFF" border="0" cellpadding="3" cellspacing="0" style="BACKGROUND-COLOR: #FFFFFF;" width="100%" > <tr > <td align="left" colspan="1" rowspan="1" valign="top" > <ul style="LIST-STYLE: none;PADDING: 5px;MARGIN: 0px;" > <li style="PADDING-BOTTOM: 10px;" ><a color="#739A59" face="Verdana, Geneva, Arial, Helvetica, sans-serif" href="http://rs6.net/tn.jsp?t=bnodldcab.0.slzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.maineshare.org" shape="rect" size="2" style="FONT-FAMILY: Verdana, Geneva, Arial, Helvetica, sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #739A59;TEXT-DECORATION: none;">MaineShare's Annual Hike and Bike Fundraiser - Sept. 9th, Bradbury Mountain State Park, Pownal</a></li> <li style="PADDING-BOTTOM: 10px;" ><a color="#739A59" face="Verdana, Geneva, Arial, Helvetica, sans-serif" href="http://rs6.net/tn.jsp?t=bnodldcab.0.tlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fknox.villagesoup.com%2FGovernment%2Fstory.cfm%3FstoryID%3D98900" shape="rect" size="2" style="FONT-FAMILY: Verdana, Geneva, Arial, Helvetica, sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #739A59;TEXT-DECORATION: none;">Camden Affordable Housing Asso. gets green light for project from Knox Co. Superior Court</a></li> <li style="PADDING-BOTTOM: 10px;" ><a color="#739A59" face="Verdana, Geneva, Arial, Helvetica, sans-serif" href="http://rs6.net/tn.jsp?t=bnodldcab.0.lbiwkvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org%2Ftodaysnews.htm" shape="rect" size="2" style="FONT-FAMILY: Verdana, Geneva, Arial, Helvetica, sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #739A59;TEXT-DECORATION: none;">Today's news about affordable housing in the U.S.</a></li> </ul> </td> </tr> </table> </td> </tr> </table> <br /> <table bgcolor="#9A5973" border="0" cellpadding="1" cellspacing="0" style="BACKGROUND-COLOR: #9A5973;" width="100%" > <tr > <td align="center" colspan="1" rowspan="1" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Arial,Helvetica,sans-serif;FONT-SIZE: 11pt;FONT-WEIGHT: bold;LETTER-SPACING: -0.05em;COLOR: #FFFFFF;" > Join our list </font> </td> <td background="http://img.constantcontact.com/letters/images/newsletters_crisp2_rounded.gif" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: no-repeat;BACKGROUND-POSITION: top right;" width="12" >&nbsp;</td> </tr> <tr > <td colspan="2" rowspan="1" > <table bgcolor="#FFFFFF" border="0" cellpadding="3" cellspacing="0" style="BACKGROUND-COLOR: #FFFFFF;" width="100%" > <tr > <td align="center" colspan="1" rowspan="1" valign="top" > <font color="#000000" face="Arial, Helvetica, sans-serif" size="2" style="FONT-FAMILY: Arial, Helvetica, sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;COLOR: #000000;TEXT-ALIGN: center;" > <form action="http://visitor.constantcontact.com/d.jsp" method="post" target="_blank" >Join our mailing list!<br /><input name="m" type="hidden" value="1101291778782" /><input name="p" type="hidden" value="oi" /><input name="ea" size="15" type="text" /><input style="font-size: 9pt;" type="submit" value="Join" /></form> </font> </td> </tr> </table> </td> </tr> </table> </td> <td bgcolor="#FFFFFF" colspan="1" rowspan="1" style="BACKGROUND-COLOR: #FFFFFF;" valign="top" width="100%" > <table border="0" cellpadding="3" cellspacing="0" width="100%" > <tr > <td colspan="1" rowspan="1" > <div style="PADDING: 0px;" > <font color="#000000" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: 0.03em;COLOR: #000000;" > <p > <font color="#000000" face="Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;FONT-WEIGHT: bold;COLOR: #000000;" > The Lending Hand e-Newsletter </font> </p> <p > <i><b>The Genesis Fund</b></i> <br>Our mission is to help Maine nonprofit groups working to create affordable housing and other economic and social opportunities in their communities by offering innovative financing, expert assistance, and help in leveraging other sources of funding.<br><br> </p> </font> <a name="article1" shape="rect"/> <table border="0" cellpadding="0" cellspacing="0" > <tr bgcolor="#0066CC" style="BACKGROUND-COLOR: #0066CC;" > <td colspan="1" rowspan="1" valign="top" > <div style="PADDING: 3px;" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: -0.02em;FONT-WEIGHT: bold;COLOR: #FFFFFF;" > Genesis Fund launches the Elizabeth McPherson Permanent Capital Fund </font> </div> </td> <td background="http://img.constantcontact.com/letters/images/newsletters_crisp2_rounded.gif" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: no-repeat;BACKGROUND-POSITION: top right;" width="12" >&nbsp;</td> </tr> <tr > <td colspan="2" rowspan="1" valign="middle" > <font color="#000000" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: 0.03em;COLOR: #000000;" > <a href="http://rs6.net/tn.jsp?t=bnodldcab.0.ulzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org%2Fpermanentfund2.htm" shape="rect"><img align="right" alt="Beth McPherson" border="0" height="162" hspace="5" src="http://ih.constantcontact.com/fs093/1101291778782/img/59.jpg?a=1101771422113" vspace="5" width="216"/></a> <p > To honor her careful nurture and growth of the Genesis Community Loan Fund during her 14-year tenure as Executive Director, the Board of Directors has created the Elizabeth McPherson Permanent Capital Fund. Beth McPherson led the organization from 1993 until her retirement in June when Bill Floyd, previously Director of Housing of the Portland-based Shalom House and former Genesis Fund board member and president, joined the staff.<br><br> With $4.3 million in its lending pool, the Genesis Fund's current permanent capital - primarily derived from three large grants from the federal CDFI Fund - stands at $1 million. The remaining $3.3 million available for lending is comprised of investment loans from individuals, banks, churches and private foundations. <br><br> "The more funds permanently placed in our lending pool the greater capacity we will have to serve Maine communities most in need. With permanent funds, we are freer to be innovative and flexible with terms, rates, and other considerations than we are when making a loan from a pool of capital primarily comprised of investors' funds." said Joanne Campbell, Genesis Fund president and Senior Vice President at Camden National Corporation. <br><br> "Also, as the Elizabeth McPherson Permanent Capital Fund grows - together with our already strong pool of investor funds - we will be able to make more loans, which is what the Genesis Fund is in business to do," said Campbell. "Already in this fiscal year we've experienced an increasing number of requests and inquiries. The Genesis Fund is poised to have its biggest lending year ever."<br><br> Executive Director Bill Floyd explained, "This is a natural time for the Genesis Fund to start to focus on building permanent capital. Many community development revolving loan funds across the country of similar size and mission begin to grow significantly at this plateau. Beth led the Genesis Fund from its earliest years with such responsible care and thoughtfulness; naming the permanent capital fund after her is a fitting and lasting way to honor her remarkable achievement. With such a firm financial foundation and a rock solid reputation, the Genesis Fund is poised to continue to grow into its mission to assist Maine's communities and individuals in need."<br><br> When asked about having a fund named in her honor, Beth McPherson said, "It's wonderful to have my name associated with dollars that can be lent at a very low interest rate and repayment can be stretched out for a long period of time."<br><br> For more information about how to contribute to the Elizabeth McPherson Permanent Capital Fund, please contact <a href="mailto:heidi@genesisfund.org">Heidi Shott</a> by email or at 207.563.6073. More information about the Fund will also be available in future editions of the <i>e-Lending Hand</i> and at <a href="http://rs6.net/tn.jsp?t=bnodldcab.0.ekhqcvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org">www.genesisfund.org</a> in coming weeks. </p> <div style="TEXT-ALIGN: right;" > </div> </font> </td> </tr> </table> <br /> <a name="article2" shape="rect"/> <table border="0" cellpadding="0" cellspacing="0" > <tr bgcolor="#0066CC" style="BACKGROUND-COLOR: #0066CC;" > <td colspan="1" rowspan="1" valign="top" > <div style="PADDING: 3px;" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: -0.02em;FONT-WEIGHT: bold;COLOR: #FFFFFF;" > Chebeague Island Community Association fast tracks home purchase </font> </div> </td> <td background="http://img.constantcontact.com/letters/images/newsletters_crisp2_rounded.gif" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: no-repeat;BACKGROUND-POSITION: top right;" width="12" >&nbsp;</td> </tr> <tr > <td colspan="2" rowspan="1" valign="middle" > <font color="#0066CC" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="1" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 9pt;LETTER-SPACING: 0.03em;FONT-WEIGHT: bold;COLOR: #0066CC;" > <font color="#0066CC" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="1" style="font-family:Verdana,Geneva,Arial,Helvetica,sans-serif;font-size:9pt;font-style:normal;font-weight:bold;color:#0066CC;" >the right property, the right funding and a motivated group</font> </font><br /> <font color="#000000" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: 0.03em;COLOR: #000000;" > <a href="http://rs6.net/tn.jsp?t=bnodldcab.0.vlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.chebeague.org" shape="rect"><img align="right" alt="Chebeague Seal" border="0" height="150" hspace="5" src="http://ih.constantcontact.com/fs093/1101291778782/img/61.jpg?a=1101771422113" vspace="5" width="150"/></a> <p > In mid-June members of the Chebeague Island Community Association (CICA) were in the middle of their first affordable housing venture - working to purchase a year-round home to lease to an income-eligible island family - a complex process to say the least. They were waiting for confirmation of CICA's nonprofit status, hoping for approval from the Genesis Fund for a $197,000 acquisition loan with $45,000 in grant awards to support the pending purchase. If approved, the conditions of the Islands Challenge Fund grant would require them to raise $25,000 in matching funds. Many things needed to happen by July 31 when the group's option to purchase a three-bedroom village home was up.<br><br> Exactly eight weeks later, CICA, a newly certified 501(c)(3) organization, was the recipient of a $20,000 grant from the Island Institute's Affordable Coast Fund and a $25,000 grant from the Genesis Fund-administered Islands Challenge Fund. CICA members secured a commitment of $25,000 in pledges from community residents to match grant funds and the Genesis Fund acquisition loan was approved. Suddenly the way was clear to purchase the three-bedroom, single family house in the village center.<br><br> As of August 9th, CICA, a volunteer organization formed in 2005 to work toward secession from Cumberland now focused on ensuring the viability of Chebeague as a year-round community, was the proud owner of its first property. The group, according to Beth Howe, chair of CICA's Housing Committee, is working to establish tenant-eligibility guidelines and plans to rent the home, beginning this fall, at an affordable price for two years. After two years CICA will decide whether to keep it as a rental unit or sell it to an income-eligible family.<br><br> As on many of Maine's offshore islands, Chebeague's middle-income residents are often priced out of the homebuyer's market. With the successful completion of their first project, the people of Chebeague are off to a great start to work, home by home, to fix the problem.<br><br> </p> <div style="TEXT-ALIGN: right;" > <a color="#0066CC" href="http://rs6.net/tn.jsp?t=bnodldcab.0.vlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.chebeague.org" shape="rect" style="FONT-WEIGHT: bold;COLOR: #0066CC;">more about Chebeague Island</a> </div> </font> </td> </tr> </table> <br /> <a name="article3" shape="rect"/> <table border="0" cellpadding="0" cellspacing="0" > <tr bgcolor="#0066CC" style="BACKGROUND-COLOR: #0066CC;" > <td colspan="1" rowspan="1" valign="top" > <div style="PADDING: 3px;" > <font color="#FFFFFF" face="Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: -0.02em;FONT-WEIGHT: bold;COLOR: #FFFFFF;" > Gorham Savings Bank invests $100,000 in the Genesis Fund </font> </div> </td> <td background="http://img.constantcontact.com/letters/images/newsletters_crisp2_rounded.gif" colspan="1" rowspan="1" style="BACKGROUND-REPEAT: no-repeat;BACKGROUND-POSITION: top right;" width="12" >&nbsp;</td> </tr> <tr > <td colspan="2" rowspan="1" valign="middle" > <font color="#000000" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: 0.03em;COLOR: #000000;" > <a href="http://rs6.net/tn.jsp?t=bnodldcab.0.wlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org%2Fgorhamsavings.htm" shape="rect"><img align="right" alt="Gorham Savings" border="0" height="102" hspace="5" src="http://ih.constantcontact.com/fs093/1101291778782/img/60.jpg?a=1101771422113" vspace="5" width="166"/></a> <p > In August Gorham Savings Bank made a $100,000.00 investment in the Genesis Community Loan Fund to assist communities throughout Maine in developing affordable housing and economic and social opportunities that benefit some of the State's most vulnerable populations. <br><br> Gorham Savings joins eight other Maine lending institutions in supporting the work of the Genesis Fund by making low-interest investment loans that comprise the bulk of the Fund's $4.3 million lending pool.<br><br> According to Daniel Hunter, Chief Operating Officer at Gorham Savings, "An investment in the Genesis Fund helps our ability to impact communities at a local level in a way we can't do through traditional lending channels. Working with the Genesis Fund is a powerful way to make that important contribution to Maine communities."<br><br> In addition to its investment with the Genesis Fund, Gorham Savings, an independent community bank since 1868, demonstrates its commitment to housing for the elderly, low-income, disabled and disadvantaged by supporting the Maine Housing Investment Fund, the Westbrook Housing Authority, the People's Regional Opportunity Program, and Habitat for Humanity.<br><br> Welcome aboard, Gorham Savings!<br><br> </p> <div style="TEXT-ALIGN: right;" > <a color="#0066CC" href="http://rs6.net/tn.jsp?t=bnodldcab.0.xlzfiecab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.gorhamsavingsbank.com" shape="rect" style="FONT-WEIGHT: bold;COLOR: #0066CC;">More about Gorham Savings Bank</a> </div> </font> </td> </tr> </table> <br /> <table border="0" cellpadding="0" cellspacing="0" > <tr > <td colspan="2" rowspan="1" valign="middle" > <br /> <font color="#000000" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: 0.03em;COLOR: #000000;" > <p > </p> <p /> </font> </td> </tr> </table> <br /> </div> </td> </tr> </table> </td> </tr> <tr > <td colspan="2" rowspan="1" > <font color="#000000" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: 0.03em;COLOR: #000000;" > <hr color="#000000" style="COLOR: #000000;HEIGHT: 1px;" /> <font color="#000000" face="Verdana,Geneva,Arial,Helvetica,sans-serif" size="2" style="FONT-FAMILY: Verdana,Geneva,Arial,Helvetica,sans-serif;FONT-SIZE: 10pt;LETTER-SPACING: 0.03em;COLOR: #000000;" > <p > <center><b>Questions about The Genesis Fund? </b><br> <i>What are the borrowing criteria?<br> How can I invest in The Genesis Fund?<br> Can our organization receive technical assistance?</i><p></p> Please visit our website at <a href="http://rs6.net/tn.jsp?t=bnodldcab.0.ekhqcvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org">www.genesisfund. org</a> or<br> email Executive Director <a href="mailto:bill@genesisfund.org">Bill Floyd</a></center> </p> </font> <br /> <div > <b>Genesis Community Loan Fund</b> </div> <hr align="left" color="#000000" size="1" style="COLOR: #000000;HEIGHT: 1px;" width="50%" /> <div > Email: <font color="#0066CC" style="FONT-WEIGHT: bold;COLOR: #0066CC;" > <a color="#0066CC" href="mailto:info@genesisfund.org" shape="rect" style="FONT-WEIGHT: bold;COLOR: #0066CC;">info@genesisfund.org</a> </font> </div> <div > Phone: 207.563.6073 </div> <div > Fax: 207.563.6055<br><a href="http://rs6.net/tn.jsp?t=bnodldcab.0.ekhqcvbab.5w7vbvbab.209&ts=S0273&p=http%3A%2F%2Fwww.genesisfund.org">www.genesisfund.org</a> </div> </font> </td> </tr> </table> </td> </tr> </table> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" width="600" > <tr > <td colspan="2" rowspan="1" > <div style="visibility:hidden;" > </div> </td> </tr> </table> </div> <br /> <table bgcolor="#ffffff" padding="0" width="100%" ><tr align="center" ><td ><table bgcolor="#ffffff" width="595" ><tr ><td colspan="2" ><font face="verdana,arial" size="1" ><b ><a href="http://ui.constantcontact.com/sa/fwtf.jsp?m=1101291778782&ea=mlongreene2%40aol.com&a=1101771422113" style="color: #0000ff;" target="_blank">Forward email</a></b></font><br /> <br /> </td></tr> <tr ><td ><font face="verdana,arial" size="1" ><FooterContent ><a href="http://visitor.constantcontact.com/d.jsp?p=un&m=1101291778782&se=209&t=1101771422113&lang=en&reason=F" target="_blank"><img border="0" src="http://img.constantcontact.com/letters/images/safe_unsubscribe_logo.gif"/></a> <div >This email was sent to mlongreene2@aol.com, by <a href="mailto:info@genesisfund.org" style="color:#0000ff;">info@genesisfund.org</a></div> <div ><a href="http://visitor.constantcontact.com/d.jsp?p=oo&m=1101291778782&se=209&t=1101771422113&lang=en&reason=F" style="color:#0000ff;" target="_blank">Update Profile/Email Address</a> | Instant removal with <a href="http://visitor.constantcontact.com/d.jsp?p=un&m=1101291778782&se=209&t=1101771422113&lang=en&reason=F" style="color:#0000ff;" target="_blank">SafeUnsubscribe</a>&trade; | <a href="http://ui.constantcontact.com/roving/CCPrivacyPolicy.jsp" style="color:#0000ff;" target="_blank">Privacy Policy</a>.</div></FooterContent></font> </td> <td ><font face="verdana,arial" size="1" ><FooterLogo /></font> </td> </tr> <tr ><td colspan="2" ><font face="verdana,arial" size="1" ><br />Genesis Community Loan Fund | 26 Water Street | P.O. Box 609 | Damariscotta | ME | 04543</font> </td> </tr> </table> </td> </tr> </table> <br /> </body> ------=_Part_9037462_717243532.1189008403689--