Budget

Please see the attached Project Cost Estimate for more details.

Project total: $10M

  • $218,000: Fees and services

  • $365,925: Administrative costs

  • $8,104,542: Construction, site work, and infrastructure

  • $810,454: Contingency/Reserves

  • $216,418: Bond and Insurance

In-kind contributions:

  • Access to 33 acres of land (Watt Samaki)

  • Master Development Plan and Civil Engineering (Watt Samaki)

  • $25,000 from Woods Excavating LLC

  • 100 hours ($12,500) of consultation and design (Steve Weatherhead, Principal, Winton Scott Architects)

  • 100+ ($15,000) hours of facilitation/coordination (Marpheen Chann, Khmer Maine)

Fundraising Plan:

  1. $5,000,000 - Philanthropic, Corporate, and Individual Support: Leveraging the power of Maine’s AAPI community’s broad network, the AACC will leverage private giving to raise at least half of the $5 million capital campaign goal. The AACC project team has already been in talks with early adopters and key funding partners over the past year and the reception has been enthusiastic.

  2. $2,500,000 - Social Impact Investment and Financing (Coastal Enterprises, Inc., Genesis Community Loan Fund, Sewall Foundation): A number of Maine-based community and social impact lending and finance institutions are looking for opportunities to grow investments in communities of color, including the AAPI community.

  3. $2,500,000 - Public Funding (Federal/State/Local Resources): The AACC will partner with public entities to access grants, loans, and funding for infrastructure and bricks and mortar.