New Paths Home: The Impact of Four Directions Development Corporation on Indian Island, Maine, 2001-2014

Citation

Jorgensen, Miriam, and Jonathan B. Taylor. 2015. New Paths Home: The Impact of Four Directions Development Corporation on Indian Island, Maine, 2001-2014. Sarasota: The Taylor Policy Group.

This report looks back over fourteen years of Four Directions’ work on Indian Island, the heart of the Penobscots’ territory, assessing its impact on households and housing. Based on this research and analysis, the creation of Four Directions has had its intended effects. Over its lifetime, Four Directions has issued more than $7.4 million in housing loans to 162 Wabanaki families statewide. In Penobscot County, it issued 114 mortgages, home improvement loans, consumer, and energy efficiency loans worth $5.29 million. Nearly half of these loans—54, which together totaled $1.94 million—were to households on Indian Island. About 68 percent of the Indian Island loans financed home purchases or refinanced home mortgages, involving at least 22 properties on the island. These investments on Indian Island represent the largest concentrated segment of loans in Four Directions’ portfolio.

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