Celebrates the Significant Impact of New Hampshire’s Community Development Block Grant Program
(Concord, N.H.) – Governor Sununu issued a proclamation declaring April 22 through 26 as Community Development Week in New Hampshire. The proclamation was presented to the New Hampshire Community Development Finance Authority (CDFA) and its partners in support of National Community Development Week and to celebrate the significant impact the Community Development Block Grant (CDBG) program has had in communities throughout the Granite State.
Community Development Week underscores the importance of dedicating federal and state resources towards community development across New Hampshire and nationwide. CDFA has been committed to strengthening New Hampshire communities for thirty-five years.
“Dedicating resources to community development initiatives in New Hampshire is fundamental to the growth and prosperity of our communities, and ultimately our State and economy,” stated Katy Easterly Martey, Executive Director, CDFA. “Community development is truly building the capacity of our communities to be strong, resilient, vibrant places through investments in people, institutions and systems. This includes the capacity to both proactively and reactively address social, economic and environmental challenges.”
Easterly Martey added, “CDFA is committed to approaching these efforts in an innovative and collaborative way that meets the evolving needs of the Granite State. Our impact is seen in revitalized downtowns, the building of high quality childcare facilities, supporting the expansion of businesses to provide job opportunities, the creation of new housing units, investments in clean energy initiatives and a healthy nonprofit sector.”
Since 2003, New Hampshire communities have received more than $200 million in CDBG resources. These critical resources directly impact people in our communities and have been deployed across the state and have made a significant impact on economic development, housing and community-based projects throughout New Hampshire. New Hampshire’s balance of state program CDBG program is ranked fifth nationally in deploying resources to areas of greatest need and has leveraged tens of millions of dollars in matching capital; and
To address New Hampshire’s community and economic development challenges, CDFA administers the following programs which provide resources to a variety of partners including nonprofits, municipalities and businesses:
- Community Development Block Grant Program: Federal program which provides financial assistance to cities, towns and counties for projects that benefit low-to-moderate income residents. Administered in New Hampshire by CDFA, awards are provided for public services, housing, substance abuse recovery centers, job creation and workforce training initiatives, as well as feasibility and emergency funding for high-priority municipal needs.
- Investment Tax Credit Program: Brings together quality nonprofit projects and community minded businesses to foster community and economic development. Each year, CDFA awards approximately $5 million in tax credits to specific community-based projects or programs that show a high degree of community support, build partnerships, and leverage other funds. A subset of the awards are dedicated to capacity building initiatives to strengthen New Hampshire nonprofits. Businesses that invest in these projects receive a 75 percent New Hampshire state tax credit against their investment.
- Clean Energy Fund: One of the state’s largest portfolios for efficiency and renewable energy financing, CDFA’s Clean Energy Fund provides a variety of technical and financial resources for businesses, nonprofits and municipalities to fund energy efficiency improvements and renewable energy generation projects.
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.
Contact: Melissa Latham, CDFA / email@example.com / (603) 717-9107