BAR HARBOR — Island Housing Trust (IHT) has received a $25,000 gift from First National Bank in support of IHT’s Coming Home campaign.
The campaign is closing in on its goal of $3.5 million that will support the completion of the 10-home Jones Marsh neighborhood, increase funding for IHT’s Home Ownership Assistance Program (HOAP) that provides down payment assistance to qualified buyers, and create an Opportunities Fund that will allow IHT to act quickly when new opportunities to acquire land or affordable homes arise.
“First National Bank is proud to partner with Island Housing Trust,” said Tony McKim, the bank’s president and CEO. “We truly believe in IHT’s campaign and mission to promote year-round communities and affordable housing for the workforce, and to help build a successful future for MDI.”
The bank’s gift will be matched by an anonymous donor who challenged IHT to raise $400,000 by the end of 2021.
“We are so pleased to have First National Bank as a partner in our work,” said Marla O’Byrne, executive director of IHT. “They are not only helping IHT move forward, they are making an investment in the long-term future of MDI’s communities. This gift will go to work immediately to create new housing opportunities for MDI’s workforce, helping our workers, employers and businesses all year round.”
Since 2003, IHT has completed 48 homeownership projects serving 143 adults and children on Mount Desert Island. IHT holds covenants on 37 homes and has overseen the successful resale of several of these properties at below market rate to qualified households working on MDI.