$5.3M in Tax Credits Awarded to NH Nonprofits

CONCORD, NH — The New Hampshire Community Development Finance Authority (CDFA) announced on Aug. 16, 2016, that it awarded $5.325 million in tax credits to 17 nonprofits throughout New Hampshire, according to a press statement. The funds will have a significant impact on community and economic development initiatives across the state. Projects receiving tax credits this year range from downtown revitalization and job creation efforts to increasing access to addiction recovery services.

“This year’s tax credit awardees demonstrate a strong commitment to serving New Hampshire through a variety of initiatives vital to the success of our communities,” commented Taylor Caswell, the executive director of CDFA. “Our tax credit program plays an important role in strengthening the connection between awarded organizations and their local business community, creating long-lasting public-private partnerships and enabling New Hampshire businesses to make investments that have an impact within their communities.”

The following organizations have been awarded tax credits for their respective projects from CDFA:

• Belknap Economic Development Corporation (Laconia) – $650,000: Tax credits will support the renovation of the Colonial Theatre Block in downtown Laconia, including the Colonial Theatre and two additional buildings. These revitalization efforts are expected to spur economic growth through job creation, as well as the development of new retail storefronts and residential, market-rate housing units.
• Community Action Partnership of Strafford County (Dover) – $312,500: Funds will be used to acquire new commercial space in downtown Dover, enabling the organization to streamline and increase access to its services for low-income families in the region.
• Dismas Home of New Hampshire (Manchester) – $62,500: Tax credits will be used to fund the development of transitional group housing and counseling services in Manchester for formerly incarcerated women. The project will focus on successfully reintegrating formerly incarcerated female inmates into the community and reducing recidivism.
• Families In Transition (Manchester) – $300,000: Funds will assist the organization in developing additional space for individual and group therapy for the Family Willows Intensive Outpatient Program. The program serves low-income women dealing with substance use disorders with the new space significantly increasing its capacity to provide treatment services.
• Franklin Business and Industrial Development Corporation (Franklin) – $400,000: To help boost revitalization efforts and economic growth in Franklin, tax credit funds will be used for façade and building improvements for three downtown properties. The renovated properties will house new business tenants including a restaurant and micro-brewery, community coffee house, an outdoor recreation business and a software company.
• Granite State Children’s Alliance (Laconia) – $325,000: The organization will use tax credits to purchase and make necessary modifications to its current location in downtown Laconia. The newly renovated building will enable a wider range of services that aid in the recovery for abused children to take place in a central location.
• HOPE for New Hampshire Recovery (Manchester) – $615,000: Tax credits will be used to fund the build of a recovery community center in downtown Manchester. The new facility will create greater capacity and access to services for those suffering with addiction.
• Lakes Region Mental Health Center, Inc. (Laconia) – $300,000: Funds will be used to consolidate the organization’s four mental health facilities to one centralized location. The move will help meet the growing demand for and improve access to mental health services, specifically among low-income individuals.
• Manchester Police Athletic League (Manchester) – $187,500: Funds will be invested in the extensive renovations to the Officer Michael Briggs Community Center. The Center’s programs are focused on fostering and maintaining positive relationships between at-risk Manchester youth and the City’s officers.
• MAPS Counseling Services (Keene) – $150,000: Tax credits funds will enable MAPS Counseling Services, the largest provider of out-patient mental health services in Cheshire County, to relocate. The new location will provide more space to accommodate staff, ADA access, as well as improved privacy and security for clients, many of whom come from low- and moderate-income households.
• Monarch School of New England (Rochester) – $500,000: The nonprofit school for special needs and disabled children will use tax credits to help develop a new high school and vocational technical center to better serve its students. In addition to providing increased capacity and improved services for students, the new facility will result in the creation of new, full-time jobs.
• Mountain Top Music Center (Conway) – $350,000: Funds will be used to help renovate and revitalize the historic Bolduc Block in downtown Conway Village. Major improvements which tax credits will help fund include the development of four retail storefronts, teaching studios for the music center and the rebuilding the historic Majestic Theater.
• Sandwich Children’s Center (Sandwich) – $125,000: Tax credits will be used to rebuild the Center’s school age classroom. The project will enable the organization to continue to fulfill a significant, local economic need by providing full-time, quality childcare to the families in the region.
• St. Joseph Hospital (Nashua) – $137,500: Pictured. Tax credit funds will be used to outfit an RV with medical equipment that will serve as a Mobile Health Clinic for the Greater Nashua region. The clinic will provide access to medical care and preventative health services for those in the local community with limited or no access.
• The Housing Partnership (Dover) – $350,000: Tax credits will fund the development of a mixed-use property in downtown Dover, specifically the newly constructed commercial space. In addition to 16,000 square feet of commercial space, the new building will also include 39 units of affordable housing.
• The Triangle Club (Dover) – $200,000: Funds will help expand and improve the organization’s current facility. The expansion will increase its capacity to provide meeting space for drug and alcohol addiction recovery meetings, a growing and critical community need.
• TwinState MakerSpaces (Claremont) – $360,000: Funding will assist in the renovation of a vacant building in downtown Claremont, turning it into a community MakerSpace facility. The new space will centralize equipment, workspace and training opportunities for local workforce and business development initiatives.

To learn more about CDFA, its impact on New Hampshire communities and available funding resources, visit nhcdfa.org.

Submitted by Melissa Latham.