Funds to Support Housing, Affordable Childcare and Community Revitalization
(Concord, N.H.) – The New Hampshire Community Development Finance Authority (CDFA) announced today it has awarded $5 million in tax credits to projects throughout New Hampshire. The funds will have a significant impact on initiatives that advance local community economic development goals, capacity building for the New Hampshire nonprofit sector, and support for economic development across the state.
Projects receiving tax credits are: providing increased access to critical services, housing and quality,
affordable childcare; revitalizing neighborhoods, downtowns and historic structures in rural communities; and supporting community economic development efforts.
“Organizations awarded Tax Credit resources have demonstrated a strong commitment to their communities – in the midst of uncertainty and significant challenges – that speaks to the resiliency and vibrancy of the Granite State,” commented Katy Easterly Martey, Executive Director, CDFA. “These community builders are driving positive, long-lasting change within our communities.”
Easterly Martey continued, “Through public-private partnerships, this year’s awardees are addressing critical needs within our communities like access to a broad base of housing opportunities and supportive services; creating new economic opportunities through affordable, quality childcare and job creation; and revitalizing neighborhoods and downtowns.”
The following organizations have been awarded tax credits from CDFA for their respective projects.
- Sullivan County (Newport) – $108,500: Tax Credits will support the Sullivan County Lead Abatement Program, a county-wide effort to remove lead hazards from sixty low- to moderate-income housing units in the next three years. This pilot program demonstrates strong community and economic benefit through the creation of safer and improved housing stock and a job training program within the region.
- Family Promise of Southern New Hampshire (Nashua) – $400,000: Funds will support the expansion of the organization’s transitional housing program, which provides residency and case management for families temporarily experiencing homeless. The project includes the addition of sixteen family suites and demonstrates a strong community and economic benefit by increasing access to transitional housing and services.
- Friends of the Concord-Lake Sunapee Rail Trail (Concord) – $200,000: Tax Credits will support the completion of a 2.5-mile section of rail trail in Concord, providing strong community benefit by increasing access to employment, transportation and outdoor recreation opportunities. When completed, the trail will stretch from Horseshoe Pond in Concord to Sunapee Harbor in Newbury.
- Hope on Haven Hill (Rochester) – $500,000: Funds will help to build the organization’s Center for Hope and Wellness, enabling Hope on Haven Hill to significantly expand programming, create community convening space, offer childcare and develop a workforce training program space for mothers in recovery. The new building will also house all of the organization’s administrative and clinical offices at one location. The project demonstrates strong community and economic benefit by increasing access to critical services and economic opportunities for low-income women.
- Hundred Nights, Inc. (Keene) – $750,000: Tax Credits will help the organization purchase a Keene property and build a forty-eight bed emergency shelter and resource center in which to offer safer, more efficient, cost-effective, and appropriate shelter and crisis-related services to individuals and families in the Monadnock region. The project provides strong community benefit by increasing access to shelter and services for homeless individuals.
- Kimball Jenkins (Concord) – $325,000: The organization will leverage Tax Credits to improve the accessibility and efficiency of the historic facilities, which serves as an important cultural and economic hub for artists and events within the region. The project demonstrates strong community and economic benefit by increasing visitors to the facility and improving economic opportunities for artists.
- Lakes Region Community Developers (Belmont) – $750,000: Funds will support the Gale School Redevelopment Project to transform a dilapidated, historic property into a vibrant community facility housing a childcare center operated by Boys & Girls Club of Central NH and a program center operated by Lakes Region Community Services. The project demonstrates a strong community and economic benefit by increasing access to quality, affordable childcare, supporting the creation of 21 jobs and expansion of vital community services.
- Mascoma Valley Preservation (Grafton) – $300,000: Tax Credits will support the rehabilitation of three historic buildings in East Grafton. The project demonstrates strong community and economic benefit by rehabilitating an affordable housing unit and community space in a rural, under-resourced area.
- Mid-State Health Center (Plymouth) – $300,000: The organization will leverage Tax Credits for the construction of a state-of-the-art childcare center to address the region’s unmet childcare needs. The project has strong community and economic benefit by increasing access to quality, affordable childcare.
- Palace Theatre Trust (Manchester) – $63,000: Funds will support safety and accessibility improvements to the organization’s Forever Emma Studios, demonstrating strong community benefit by increasing access to arts for youth.
- Southwestern Community Services (Keene) – $475,000: Tax Credits will support the organization’s collaborative approach to the “21 in 21” neighborhood revitalization program in Keene’s East Side. The project demonstrates strong community and economic benefit, through the rehabilitation and weatherization of twenty-one workforce housing units.
- The Music Hall (Portsmouth) – $63,000: The organization will leverage funds to install a new, state-of-the art lighting system. The Music Hall is an important community hub and economic driver within the region. The project demonstrates strong community and economic benefit by increasing access to arts and improving energy efficiency.
- Town of Lancaster (Lancaster) – $155,500: Tax Credits will support the replacement of aging, outdoor playground equipment and add a covered pavilion at the Colonel Town recreation area in downtown Lancaster, which serves the surrounding region. The project demonstrates strong community and economic benefit by increasing access to outdoor recreation opportunities and driving economic activity by bringing residents and visitors downtown.
- Waypoint (Rochester) – $115,000: Funds will support the development of a drop-in center in Rochester that will provide prevention and early intervention services for youth and young adults who are homeless or at-risk of becoming homeless. The project demonstrates a strong community benefit by creating a physical space that will allow Waypoint to connect with a wider range of youth, provide immediate basic needs and better support youth in changing their lives.
CDFA also awarded tax credit funds for its L5 Capacity Building Program, which is focused on providing an infusion of capital at a pivotal point in a nonprofit organization’s development. The awarded resources will further enable those organizations in furthering their missions and serving the needs of New Hampshire communities. CDFA awarded tax credit funds to support capacity building for the following organizations:
- Ascentria Care Alliance (Statewide) – $75,000: Funds will support the expansion of the organization’s Good News Garage and Wheels to Work programs. The programs accept vehicle donations to be refurbished and awarded to families in need.
- Family Promise of Southern New Hampshire (Nashua) – $50,000: Funds will be used to hire a Diversion Program case manager. With this position in place, Family Promise will be able to successfully divert more individuals and families into more stable situations by offering financial assistance, as well as case management, to get them through their crisis.
- Granite State Adaptive (Tuftonboro) – $40,000: Resources will support the growth and strengthening of the organization, specifically as it assesses its ability to purchase and develop an accessible, multi-use facility that will enable them to grow their programs which serve individuals with disabilities.
- Hannah Grimes Center, Inc. (Keene) – $74,575: Funds will be used for a multi-pronged capacity building effort to strengthen the organization and deepen its ability to collaborate and grow programs that serve the community.
- Hope on Haven Hill (Rochester) – $60,000: Resources will be used to develop and pilot a new program, “Pathways to Employment,” to secure meaningful employment for mothers with substance use disorder who are parenting young children.
- The Homeless Center for Strafford County (Rochester) – $45,500: Funds will be used to hire an Aftercare Case manager, which will add critical capacity to the organization’s case management team and overarching efforts to help keep families in permanent housing following shelter stays.
- YWCA New Hampshire (Manchester) – $50,000: In partnership with the Manchester Community Action Coalition, resources will help YWCA New Hampshire to expand the Virtual Tutoring program and transition from an all-volunteer to a staffed project. The program provides important, family-centered supports to the local community.
New Hampshire needs a strong, effective nonprofit network with the capacity to support our communities and envision, create, and implement broad-based community economic development projects as we recover from the lasting impact of the COVID-19 crisis. CDFA is committed to assisting New Hampshire’s nonprofits in becoming more resilient during this time of significant economic disruption. In 2021, CDFA will help support nonprofits awarded through the L5 Capacity Building Program by raising $395,000 in Tax Credits for State Fiscal Year 2022 (July 1, 2021 – June 30, 2022). Additional information on how businesses can support nonprofits engaged in this work can be found here: www.nhcdfa.org/CapacityBuilding.
In addition to this year’s selected projects, CDFA’s tax credit program supports New Hampshire’s Regional Development Corporations. The funds will provide capital for the nonprofit Regional Development Corporations throughout the state to collaborate on fostering and encouraging economic development and job creation.
Grants made to organizations are in the form of tax equity. New Hampshire businesses support the selected projects by purchasing the tax credits, resulting in the nonprofit receiving a donation and the company receiving a 75 percent New Hampshire state tax credit against that contribution. The credit can be applied against the Business Profits Tax, Business Enterprise Tax, or Insurance Premium.
To learn more about CDFA, its impact on New Hampshire communities, and available funding resources, visit www.nhcdfa.org.
About the Community Development Finance Authority
The Community Development Finance Authority (CDFA) is a statewide nonprofit public authority focused on maximizing the value and impact of community development, economic development, and clean energy initiatives throughout New Hampshire. The organization leverages a variety of financial and technical resources, including the competitive deployment of grant, loan, and equity programs. Those resources include New Hampshire state tax credits, federal Community Development Block Grant resources and the CDFA Clean Energy Fund. For more information about CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.
