CDFA Awards Funding to Twin Pines Housing and Lebanon Opera House
The New Hampshire Community Development Finance Authority (CDFA) announced on June 19th that it has awarded $4 million in tax credits to nonprofits 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 ecosystem and technical assistance to support economic development across the state.
Projects receiving tax credits are addressing critical needs in the Granite State, from providing increased access to quality, affordable childcare to downtown revitalization and developing affordable, workforce housing.
“Our tax credit awardees have demonstrated a strong commitment to delivering programs and services vital to New Hampshire communities that further enhance economic development, downtown revitalization, as well as affordable housing and childcare, and more,” commented Katy Easterly Martey, Executive Director, CDFA. “The Tax Credit Program is uniquely structured to enable effective, reliable deployment of public and private resources to our nonprofit partners. The result is the creation of long-lasting public-private partnerships that achieve critical local initiatives that enable our communities to be more resilient, vibrant places people want to work, live and visit.”
“As we continue on our mission to strengthen communities throughout the Granite State, we look forward to growing our impact with new programs that are responsive to our partner’s needs, the evolving investment world and the increasing demand from businesses looking for more ways to invest in their local communities,” continued Ms. Easterly Martey.
Twin Pines Housing received two awards. $250,000 in tax credits have been awarded for the creation of a community building at the Village at Crafts Hill. The building will provide much needed space for programming and community gathering, as well as an accessible laundry facility for the nearly 200 residents. “As we have introduced support services to the residents at Crafts Hill since taking ownership in 2015, the need for a dedicated programming area has grown,” said Andrew Winter, Executive Director. “We look forward to creating this essential resource over the next year.” Twin Pines also received $29,094 in L5 Capacity Building tax credit funds to support a strategic planning process.
Lebanon Opera House received $155,000 in tax credits to purchase a sound system and a new digital projector. The investment in equipment will enable the organization to provide increased access to arts and culture in downtown Lebanon, which will directly impact the local economy. “With a permanently installed sound system, LOH will move one step closer to becoming the Upper Valley’s premier location to experience consistent, quality live music,” said Lebanon Opera House Executive Director Joe Clifford. “The addition of a high-end digital projector affords LOH an opportunity to return its roots as a movie house and support the growing demand for multimedia live performances.”