YARMOUTH — Maine Preservation has launched a new revolving fund program to identify threatened structures and act to safeguard their future.
The revolving fund approach, which has seen success in states such as Rhode Island and North Carolina, will allow Maine Preservation to obtain option-to-purchase agreements for historic properties, according to a recent statement from the nonprofit. Maine Preservation will then market each property to find preservation-minded buyers interested in rehabilitating the buildings, add a preservation easement to the deed (to prevent demolition and destructive changes), resell the property, and “revolve” proceeds back into the program to acquire and protect more threatened buildings.
Maine Preservation’s revolving fund program is funded by $169,000 from the 1772 Foundation, as well as a $50,000 anonymous matching gift, and $10,000 from the Elsie and William Viles Foundation.
“The revolving fund provides the means to ensure the survival and active use of some of Maine’s most important historic buildings,” said Maine Preservation Executive Director Greg Paxton in a statement. “We can’t recreate these strongly built, durable and stunningly beautiful buildings that are witnesses to history. The old-growth forests from which they were constructed are long gone. So are the owners and craftsmen who built them. And once the buildings are gone, they’re gone forever. But we at Maine Preservation won’t let that happen. They will become treasured homes for new owners ”“ and inspire others to take on rehabilitation of historic buildings in communities across our state.”
Three historic houses built by the founding families of Buckfield, South Thomaston and Madison are among four properties inaugurating the statewide revolving fund: the 1791 Abijah Buck House, built by a French and Indian War veteran who settled in 1777 and led the establishment of the Town of Buckfield, which was named after him; the 1795 Robbins-Anderson House in South Thomaston stands on property purchased by Oliver Robbins in 1765; and the Weston Homestead of Deacon Benjamin Weston, who settled his parcel of land in Madison in 1786, and built his Federal-style house in 1817.
The revolving fund also currently offers the George Washington Lodge of the Independent Order of Odd Fellows Hall in the Downeast town of Pembroke. The hall was built by local master craftsman Nathan Foster in 1896 and only recently left the Odd Fellows ownership.
Maine Preservation is the sole statewide nonprofit historic preservation organization, incorporated in 1972. Visit mainepreservation.org for more information.
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