CDFA awards over $4.5 million in tax credits for economic development

Funds will support revitalization, affordable housing, infrastructure

June 17, 2020

NHBR Staff,

The Colonial Theatre has received $675,000 in CDFA tax credits to help fund a range of facility improvements.

The New Hampshire Community Development Finance Authority has awarded more than $4.5 million in tax credits to economic development projects throughout New Hampshire.

The CDFA said that projects receiving tax credits are providing increased access to critical services and affordable housing, revitalizing downtowns, historic structures and community infrastructure in rural communities.

Awarded tax credits from CDFA for their projects were:

Cathedral of the Pines, Rindge, $150,000, to support redevelopment of the Hilltop House and a two-story addition.
Colonial Theatre Group, Keene, $675,000, to help address facility improvements, including increased accessibility, energy efficiency upgrades, enhanced patron services, expanded and flexible performance spaces and technical upgrades to production systems.
The Community Kitchen, Keene, $62,500, to make necessary upgrades to improve energy usage while reducing operational costs and improving the operational layout of the facility. • Currier Museum of Art, Manchester, $300,000, to assist in purchasing and revitalizing a property in Manchester to support its Artist-in-Residence program as well as serve as a venue for workshops and small events.
Friends Program, Concord, $125,000, to assist in renovating the organization’s homeless shelter to improve its ability to support families, as well as adding space for an additional family.
GATHER, Portsmouth, $187,500, to support creation of the organization’s Fresh Food Bus, a mobile pantry market that will deliver fresh healthy food to families in need.
Journeys in Education Inc., Peterborough, $18,125 to replace the asphalt shingle roof at the Mariposa Museum and World Culture Center.
Town of Littleton, $575,000, to support creation of Riverfront Commons, an economic development and recreation project that will expand downtown public parking, create a connection to the rail trail, establish a Welcome Center and provide a permanent home for a farmers’ market that supports 45 small businesses.
Making Matters NH, Concord, $105,000 to purchase equipment for its the makerspace.
Mayhew Program, Bristol, $306,250, to support upgrades to the summer camp facility, which serves at-risk male youth in New Hampshire.
Monadnock Art X Tech, Dublin, $62,500, to provide equipment and support renovations of a new ceramic studio space.
Newport Opera House Association, Newport, $181,070, to upgrade its stage lighting system, install a new audio system and procure a projection system capable of showing high-definition digital movies.
New Hampshire Community Loan Fund, Concord, $325,000, to provide funding for the organization’s Housing Assistance Loan program.
Portsmouth Submarine Memorial Association, Portsmouth, $375,000, to support the restoration and preservation of the historic submarine USS Albacore.
Seacoast Repertory Theatre, Portsmouth, $218,750, for major repairs and renovations to aging lobby, built in the 1970s.
Southeast Land Trust, Epping, $450,000, to establish the Center for People and Nature at the 237-acre Burley Farms in Epping through the construction of a 7,000-square-foot energy-efficient building and the rehabilitation of a 1785 farmhouse.

The CDFA also awarded tax credits for its L5 Capacity Building Program, which provides a one-time infusion of capital at a pivotal point in a nonprofit organization’s development: