The Maine State Housing Authority, known as MaineHousing, announced Tuesday it has allocated more than $30 million for nine affordable housing developments across the state.

The investment consists of $26.2 million in state and federal tax credits that will generate close to $70 million in equity from private investors, plus a $4.2 million subsidy, to build or renovate the developments.

MaineHousing said the funding will create or preserve 430 housing units, of which 388 will serve households at or below 60% of the area’s median income.

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