Summary of the Legislation that created MRDA
The Maine Rural Development Authority was established to provide loans to communities for the acquisition, development or redevelopment of commercial facilities. The MRDA can act as a lender or investor where economic needs are not supported by private investment.
Commercial Facilities Development Program Summary
This Program allows MRDA to serve as lender or investor in the acquisition, development or redevelopment of commercial real estate for subsequent sale or lease into private productive use.
Speculative Buildings Program Summary
This Program allows MRDA to provide loans to Local Development Corporations (as defined in Title 5 MRSA; 13120-B) for construction of speculative buildings.