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Land for Maine’s Future board hears fund balances, warns unallocated pools are low
Summary
Board staff reported the Land for Maine's Future (LMF) trust has roughly $21 million in cash and about $2.4 million in interest earned to date; members discussed low unallocated balances for several program categories and the need for new state funding or bonds.
At a Land for Maine's Future Board meeting, staff reported the trust fund has a little under $21,000,000 in cash and has earned about $2,400,000 in interest to date. Laura Graham, director, told the board the account includes restricted gifts earmarked for land acquisition and unrestricted gifts used for administration, and that the interest earnings have been allocated to program purposes.
Board members spent the bulk of the discussion on how much of that money is already encumbered. Graham said the fund shows active allocations for 45 projects with slightly more than $17,000,000 earmarked for those projects…
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