Supporting Twin Pines Housing
Your financial support will ensure that Twin Pines Housing can continue providing homes and supportive services to low-income households throughout the Upper Valley.
As an essential service provider in both Vermont and New Hampshire, we’ve been there for our residents helping them to stay healthy and housed.
- Twin Pines Housing staff reached out to each of our residents during the early days of the pandemic to check-in and inform them of CDC guidelines. They continue to contact residents regularly.
- Our supportive services team is helping residents access unemployment benefits, rental and utility assistance, and food access programs.
In addition, we’re continuing to create new housing and renovate existing properties:
- In October we successfully helped the residents of Summer Park in Hanover move from obsolete buildings to their new energy-efficient, elevator-equipped home. Construction of a second wing of 18 apartments for seniors has begun.
- Renovations of the 100 apartments at the Village at Crafts Hill in West Lebanon will be complete in January, 2021. Stay at Home orders combined with social distancing guidelines prevented interior renovations for several months this spring. Working with our construction company, we adjusted plans to focus on exterior and basement improvements along with the conversion of four apartments to fully accessible units. By adjusting plans, we have been able to move the project forward.
- In August, we started construction on two sites in Hartford that will create 21 new apartments for low and moderate-income households.
- Planning is well underway to create four new shared-equity homes in Woodstock. Construction is scheduled to begin this spring and when complete, the homes will be sold to moderate-income households.
3 Ways to Give Real Estate
1. Make an Outright Gift
A home, land, or rental property can simply be gifted to Twin Pines Housing. If you have owned it for more than a year, you will receive a charitable income tax deduction for its fair market value and avoid paying capital gains tax on the appreciation.
2. Create a Life Estate Agreement
A life estate agreement is a terrific way to gift your primary or vacation home to Twin Pines Housing and still enjoy it for your lifetime. You would continue to pay the maintenance, insurance, and taxes on the property just as you do now. Then, after your lifetime, we can put the house to use without the delays or expense of probate. A sizable charitable deduction is available when you establish a Life Estate Agreement, so you can enjoy the tax benefits today.
3. Sell Your Real Estate at a Bargain Price
Selling your real estate to Twin Pines Housing for a bargain price also offers many financial benefits. First, you will receive a charitable deduction for the discount below its fair market value.
And since some of the property’s appreciation stays with the gifted portion, your capital gain tax on the bargain price is reduced. In fact, many bargain sales are structured so the capital gains tax is completely offset by the tax value of the charitable deduction — a zero tax solution.
Bargain sales are a common way to use the power of tax planning to turn your real estate sale into a charitable gift larger than you may have thought possible.
Please contact us to learn how to plan a gift that meets your financial goals.
Andrew Winter, Executive Director