Protect & Sell Program
The Protect & Sell Program for historic properties, formerly known as the Revolving Fund Program, matches owners interested in rehabilitating historic buildings with unique properties across Maine. Protect & Sell works with buildings at least 50 years old, which enter the program either by donation or by Maine Preservation securing an option-to-purchase the property. The Protect & Sell Program provides peace of mind to individuals who are seeking to sell their historic properties but who are concerned about safeguarding the building’s future.
The program seeks to acquire property, generally through a long-term option-to-purchase agreement donated or at a nominal fee that is executed at the time of closing with a new purchaser. The option price is based on market rate, though properties can be offered to Maine Preservation at a discount or can be donated. Upon resale, the proceeds are put back into the program to be used on additional properties.
Preservation easements on revolved properties are retained by Maine Preservation to help guide their rehabilitation and ensure their preservation in perpetuity. The easement properties are inspected at least annually and any proposed changes are reviewed. To cover these and any legal expenses a one-time easement fee is necessary.
The Protect & Sell Program allows Maine Preservation to directly enter into real estate transactions and to partner with homeowners, commercial property owners, historical societies, land trusts, environmental and agricultural organizations and municipalities to help save buildings. Maine Preservation can also work with estates and families that have owned or inherited a treasured resource through multiple generations and wish to sell the historic property. The innovative program is operating statewide and currently includes historically significant properties in Buckfield, Pembroke and Madison as well as other locations soon to be announced.
For questions and inquiries please contact Maine Preservation at (207) 847-3577.
To view current properties offered: click here.