CONWAY — The New Hampshire Community Development Finance Authority recently announced it has awarded $5 million in tax credits to projects 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 non-profit sector and support for economic development across the state.
Included among the recipients was Vaughan Community Services, which was awarded $300,000 in tax credits.
Vaughan Community Services of Conway will use its tax credits to renovate to a child care facility and construct a new food pantry near North Conway Village. Renovations will improve energy efficiency and the overall learning environment while reducing operating costs. The project will provide strong community impact through increased access to critical services including affordable, quality child care.
According to Vaughan Board of Directors Chairman Dot Seybold: "The Board of Directors of Vaughan Community Services Inc. is extremely grateful to the CDFA for their generous award of $300,000 in tax credits, which, if fully funded, will generate up to $240,000 in funds to the local non-profit.
"The $1.3 million Capital Campaign is entering its final phase with nearly $900,000 in pledges and outright donations, not including the CDFA award," she noted.
Seybold added that all the credit for the successful application and award of the CDFA grant "is due to the efforts of the Capital Campaign Chairman Dan Jones. He worked so hard on what is a long and detailed process, spending time traveling to Concord and working with our consultant Nancy Devine to make sure we met their complicated requirements for a successful application.”
The first phase of the project will be the construction of the Food Pantry building, and the board hopes to start that by mid-July. Once the pantry is finished it will be partially used to host the children of the Learning Center while the renovation of their current location is ongoing.
Vaughan has received pledges and funding from major funders in the region including Hannaford Foundation, New Hampshire Electric Cooperative Foundation, Dorothy and Robert Goldberg Foundation, Connie Davis Watson Foundation, Cogswell Benevolent Trust, New Hampshire Charitable Foundation, and the Pequawket Foundation .
Other groups in the Mount Washington Valley community that have benefited from these grants include the Majestic Theater project and the Mt. Washington Valley Trails project.
In the current round of funding, many organizations across the state were also awarded tax credits from CDFA for their respective projects.
They include: Affordable Housing, Education and Development (AHEAD) Inc. of Bethlehem), $450,000; Aviation Museum of NH (Manchester), $187,000; Boys & Girls Club of Greater Nashua, $120,000; City of Franklin, $500,000; City of Nashua, $367,500; GALA Community Center (Wolfeboro), $275,000: Tax credits will be used to renovate the Carroll County Makerspace and Incubator in downtown Wolfeboro.; Lakes Region Community Developers (Laconia), $200,000: Lakes Region Community Developers will use tax credits to support the development of the Court Street Neighborhood Center in downtown Laconia; Nashua Soup Kitchen and Shelter, Inc., $500,000; NeighborWorks Southern New Hampshire (Manchester), $175,000; New England Healing Sports Association (Newbury), $200,000; Northern Forest Center (Lancaster), $200,000; Palace Theatre Trust (Manchester), $275,000; The Homeless Center for Strafford County (Rochester), $250,000; and West Claremont Center for Music and the Arts, $400,000.
Katy Easterly Martey, executive director of CDFA, said: “Our tax credit awardees are leading collaborative, community-based projects to address critical needs in the Granite State that bring together public and private resources to solving local challenges. The diversity of projects funded speaks to the many ways our partners are driving forces behind making New Hampshire communities strong, resilient, vibrant places.”
CDFA also awarded tax credit funds for its L5 Capacity Building Program. City of Lebanon received $75,000 in L5 Capacity Building funds; Farmsteads of New England, Inc. (Epping), $12,813; Greengard Center for Autism (Portsmouth), $75,000; New Hampshire Center for Nonprofits (Concord/Statewide), $75,000; New Hampshire Water Works Association (Concord/Statewide), $28,916; TLC Family Resource Center (Claremont), $33,271; Triangle Club, Inc. (Dover), $75,000.
The Community Development Finance Authority is a statewide non-profit 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, go to nhcdfa.org or call (603) 226-2170.