The Community Development Finance Authority (CDFA) made 145 investments in community-based initiatives and organizations, infusing more than $20 million into community development, economic development and clean energy projects throughout New Hampshire in State Fiscal Year 2021 (July 1, 2020 – June 30, 2021). Investment of these resources touched down in 53 communities across the Granite State. Information on CDFA’s impact, as well as organizational and program highlights and activities, are detailed in its newly published State Fiscal Year 2021 Annual Report.
“CDFA’s impact over the last state fiscal year represents a significant increase – 33 percent – year-over-year in the number of initiatives supported,” states Katherine Easterly Martey, Executive Director, CDFA. “We remain committed to helping create communities that are economically and socially resilient. With more than $20 million invested over the last year, CDFA has increased funds deployed to New Hampshire communities by $4 million since State Fiscal Year 2019 and we are well on the way to reaching our goal of increasing investments to an average of $20 million annually by 2022.”
Awards in State Fiscal Year 2021 supported nonprofits, municipalities, businesses and microenterprises as they continued to navigate an evolving and difficult socioeconomic landscape; delivered critical services to their communities; provided new jobs; created healthy and safe affordable housing; helped strengthen Main Streets; improved public facilities; and increased energy efficiency. Additionally, initiatives supported by CDFA reported the following impacts last fiscal year:
- Assisted 8,707 people;
- Rehabbed, preserved or created 152 housing units;
- Created or retained 1,076 jobs;
- Supported 440 micro businesses;
- Developed or rehabbed 18,630 square feet;
- Estimated annual energy savings of 330,272 kW hours; and
- Saved an estimated $69,500 in annual energy costs.
CDFA’s Board of Directors met at the Belknap Mill in Laconia this week to review State Fiscal Year 2021 accomplishments and discuss the opportunities ahead for the organization to advance its mission and the goals outlined in its living strategic plan. While visiting downtown Laconia, several Board members also had the opportunity to tour the newly renovated Colonial Theatre. Both the Belknap Mill and Colonial Theatre have accessed various CDFA resources in their efforts to restore these historic landmarks and contribute to the significant revitalization of downtown Laconia.
Business Donor Spotlight
CDFA’s Tax Credit Program engages businesses across New Hampshire each year to support nonprofit organizations that are engaged in community economic development initiatives. Even during tumultuous economic times due to the COVID-19 pandemic, the New Hampshire business community’s commitment to nonprofit partners through the Tax Credit Program remained strong as they recognized the need to support community-based projects now more than ever.
Grappone Automotive Group, a long-standing family-owned New Hampshire business, is committed to giving back to New Hampshire communities and has been a longtime investor in projects awarded CDFA tax credits. Since 1999, Grappone Automotive Group has donated more than $3.6 million to community economic development projects through CDFA’s Tax Credit Program.
“CDFA’s Tax Credit program maximizes our ability to invest in projects we are passionate about in communities where our team members and guests live, work and visit,” according to Amanda Grappone Osmer. “These projects – like expanding the availability of affordable, quality childcare and critical housing or substance use disorder services – directly impact our team members, guests and their families. It’s important to our business that contributions through CDFA and beyond demonstrate how committed we are to improving New Hampshire’s communities for us all.”
COVID-19 Crisis Response
CDFA continues to work with a variety of partners to ensure the organization’s resources and response is aligned with the evolving needs of municipalities, nonprofits and businesses. Specific efforts to address New Hampshire community needs during the COVID-19 crisis over the last fiscal year included:
- Administering the NH Nonprofit Emergency Relief Fund alongside the New Hampshire Charitable Foundation and New Hampshire Center for Nonprofits. Grants from the fund totaled $40 million and enabled 495 nonprofit organizations with a wide variety of missions to continue to serve tens of thousands of New Hampshire residents impacted by the coronavirus epidemic.
- Deploying Community Development Block Grant CARES Act Funds to respond to microenterprise, public service, housing and public facilities needs within New Hampshire’s communities.
- Providing gap funding to assist infrastructure projects navigating the economic impacts the COVID-19 crisis is having on timelines and costs, which was creating a significant barrier to their success.
Organizational and Program Highlights
CDFA undertook a number of significant initiatives in State Fiscal Year 2021 to align with its strategic goals, support critical statewide initiatives, and increase the organization’s capacity to assist municipal, nonprofit and business partners to advance community-based projects. In addition to supporting the deployment of resources to 145 projects across New Hampshire in State Fiscal Year 2021, CDFA’s organizational and programmatic highlights include:
- Increasing the level of technical assistance delivered across program areas.
- Supporting the publishing of the “Analysis of Impediments to Fair Housing Choice in New Hampshire: 2020 Update” in May 2021, alongside New Hampshire Housing Finance Authority. The report was prepared by New Hampshire Legal Assistance and focuses on identifying and analyzing the barriers to equal access to housing and community assets, which is crucial to a state’s ability to overcome these challenges.
- Developing New Hampshire’s 2021 – 2025 Consolidated Plan to help guide the investment of Community Development Block Grant resources statewide in the coming years with the goal of increasing resources available for municipalities to accomplish their community economic development goals.
- Launching the Community Facilities Energy Assessment and Technical Assistance Grant Program to provide municipalities and nonprofit organizations grant funding for energy-related studies.
- Completing the implementation of CDFA’s Recovery Friendly Workplace Initiative grant program, including publishing a comprehensive report on the disbursement of funds and effectiveness of the Recovery Friendly Workplace pilot program.
- Leading the Council on Housing Stability, alongside New Hampshire’s Department of Health and Human Services and Department of Business and Economic Affairs, in developing a new Strategic Plan to promote housing stability and tackle homelessness for people of the Granite State.
- Continuing to build data capacities including data collection, analysis and visualization.
For more information on resources available to New Hampshire nonprofits, municipalities and businesses through CDFA’s programs, 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.
Contact: Melissa Latham, CDFA (email@example.com / (603) 717-9107)