(Concord, N.H.) – The New Hampshire Community Development Finance Authority (CDFA) announced today it has awarded $4.5 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 and build capacity within New Hampshire’s nonprofit sector.

Projects receiving tax credits are: providing increased access to critical services, housing and quality, affordable childcare; revitalizing downtowns and historic structures in rural communities; and supporting community economic development efforts.

“Organizations awarded Tax Credit resources have demonstrated a strong commitment to their communities,” commented Katy Easterly Martey, Executive Director, CDFA. “These community builders are driving positive, long-lasting change in New Hampshire.”

Easterly Martey continued, “Through public-private partnerships, this year’s awardees are addressing critical needs within our communities like access to permanent supportive housing; creating new economic opportunities through affordable, quality childcare; and revitalizing downtowns that serve as regional economic drivers in rural areas of our state.”

CDFA awarded tax credit funds for its Community Economic Development Capacity Building Program. New Hampshire needs a strong, effective nonprofit network with the capacity to support our communities and envision, create, and implement broad-based community economic development projects. The awarded Capacity Building resources will support the following organizations in advancing their missions and serving the needs of New Hampshire communities.

CDFA awarded tax credit funds to support capacity building for the following organizations:

Androscoggin Community Cooperative (Berlin) – $31,250: Capacity building resources will support the Androscoggin Food Co-op on its mission to create a community owned cooperative market with accessible, healthy food options for all in the Androscoggin Valley.
Coös Economic Development Corporation (Lancaster) – $150,000: Coos Economic Development Corporation and Grafton Regional Development Corporation will use capacity building resources to advance a collaborative approach to better reaching underserved small businesses and entrepreneurs within their communities.

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

Colebrook Kiwanis Foundation (Colebrook) – $50,000: The Colebrook Kiwanis Foundation will use tax credit resources to rehabilitate the South Main Street Park in downtown Colebrook, which is a central gathering space for the community and visitors. The rehabilitation of open and accessible green space complements the community’s downtown revitalization efforts currently underway.

"We are so excited to see that three organizations in Coös County were awarded. We hope that businesses will support these efforts by participating in the tax credit program to ensure funding is achieved. If any businesses have any questions about participating we encourage them to reach out to us," says Ericka Canales, Executive Director of Coös Economic Development Corporation.

Grants made to organizations are in the form of tax equity. New Hampshire businesses support the selected projects by purchasing the tax credits, resulting in the nonprofit receiving a donation and the company receiving a 75 percent New Hampshire state tax credit against that contribution. The credit can be applied against the Business Profits Tax, Business Enterprise Tax, or Insurance Premium.

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