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After spending five-plus years rebuilding and rebranding the 31-room Lighthouse Inn, at 20 Nubble Road in York Beach, Diane Pace sold it in favor of a new project. Within a day of the sale, she purchased the six-room West End Inn, at 146 Pine St. in…
PORTLAND — Businesses that don't have enough space for outside dining, but have adequate parking can now be part of the pilot "parklet" program.
Central Maine Medical Center's president Wednesday cited positive feedback on its efforts to rectify a poor January report on protocol compliance from the Centers for Medicare and Medicaid systems.
The U.S. Department of Transportation has awarded $13.8 million to airports in Biddeford, Eastport and Jackman in grant funding from the Federal Aviation Administration’s Airport Improvement Program.
Scott Simons Architects in Portland took the top American Institute of Architects/Maine prize in the institutional/commercial category for its design of the newt Waynflete Lower School building in Portland’s Western Promenade Historic District.
Shamrock Sports & Entertainment, Portland Symphony Orchestra and the city of Portland are teaming up to launch a new festival called SummerFest ME, which features two inaugural events this year celebrating Portland’s arts, cultural and…
An inverted yield curve, when short-term bonds have higher yields than long-term bonds, is a very good indicator that a recession is coming. Here are some tips to prepare your investment portfolio for a recession.
ORPC Inc. announced today it is partnering with Warbird Capital LLC, a private investment firm specializing in financing solutions for asset-heavy enterprises, to offer tailored leasing solutions to customers interested in its renewable river power…
More than two decades after founding Allagash Brewing Co. in Portland, industry pioneer Rob Tod has been named a James Beard Award winner.
Brenda Garrand, founder of Garrand & Co., is leaving the Portland-based marketing agency she started in 1989 in order to pursue other interests.
Sen. Nathan Libby, D-Lewiston, is sponsoring a bill, LD 149, that would ask voters to approve a $250 million bond issue to ease student debt. Under Libby’s proposal, if voters approved, the $250 million bond would fund a program administered by the Finance Authority of Maine to help pay off student loan debt for individuals who agree to live and work in Maine for five years. It also would reimburse employers that make student loan debt payments on behalf of their employees who agree to live and work in Maine for five years.
Andrea Cianchette Maker, a partner at Pierce Atwood, testified in support of the bill on behalf of Acadia Insurance and IDEXX Laboratories. Citing figures from the Project on Student Debt, Maker noted the average student loan indebtedness for Mainers is $31,364, which is 10th highest in the nation. In total, she said, Mainers owe more than $6 billion in student debt.
“If enacted, LD 149 could be a game-changer for our state,” Maker wrote. “It will significantly help Maine attract and retain a desperately needed future workforce by helping our workers get out from under college debt in an expedited manner. After that debt is paid, they will be fully engaged in Maine's economy and in a much better position to invest in their futures here in Maine, from buying a first home to raising a family.”
At its May 9 public hearing, the bill received support from Behavioral Health Community Collaborative, Maine Association of Realtors, Maine State Employees Association, AARP Maine, Finance Authority of Maine, Maine Tourism Association, Lewiston Auburn Metropolitan Chamber of Commerce and a number of individuals who shared personal stories about how their student debt adversely affects their lives.
Of the 27 people testifying at the hearing, only a few opposed Libby’s bill outright — essentially saying the state’s resources are not unlimited and the bond would divert funding from other essential needs.
The fiscal statement attached to the bill indicates a 10-year $250 million bond would require another $65.3 million to pay off at a 4.75% interest rate, for a total cost of $315.3 million.
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