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Committee reviews FAME under GEA; adopts acknowledgment and affirms quasi‑independent oversight
Summary
The Joint Standing Committee on Housing and Economic Development reviewed the Finance Authority of Maine’s eight‑year evaluation under the State Government Evaluation Act, heard FAME leaders outline program scale and student‑aid impacts, and voted to adopt a draft letter acknowledging the review and to find FAME met quasi‑independent entity expectations.
The Joint Standing Committee on Housing and Economic Development reviewed the Finance Authority of Maine’s (FAME) program evaluation and voted to adopt a draft letter acknowledging the review.
Carlos Mello, FAME’s chief executive officer, told the committee FAME has supported about 12,000 Maine businesses and facilitated roughly $2.5 billion in direct and indirect financing since its inception, while the state’s capital investment in those lending programs totals about $60,000,000. “We’re an essential component of the state’s workforce and economic development ecosystem,”…
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