LACONIA — The Laconia Area Community Land Trust (LACLT) has been awarded $500,000 in tax credits to sell by New Hampshire's Community Development Finance Authority (CDFA).
The proceeds from the sale to business donors will be used to upgrade 60 units of permanently affordable rental housing owned by LACLT, many of which are showing significant wear and tear.
Twenty years ago, the Laconia Area Community Land Trust began rehabbing scattered-site apartments in Laconia. Five years later, LACLT finished its first major project – a $1.4 million revitalization of the city's Avery Hill neighborhood. Pine Hill and other Land Trust projects quickly followed.
Now LACLT is working on a Portfolio Strengthening Initiative for these properties, which for years have provided safe, well-managed homes for hundreds of people while increasing property values and tax revenue. Because LACLT remains committed to preserving these permanently affordable community assets, the aging units need a capital infusion to position them for success for the next two decades.
Statewide, more than $4.1 million was recently awarded through the CDFA Tax Credit Program. Twenty-three community projects throughout the state sought tax credit funding; 10 initiatives were approved. LACLT's Portfolio Strengthening Initiative was one of only three
applications awarded its full request.
Awards made to these organizations are tax credits, not cash. The Tax Credit Program enables businesses to donate to LACLT in exchange for a state tax credit that can be applied against the New Hampshire business profits, business enterprise, or insurance premium taxes. The
state tax credit is equal to 75% of that contribution. In addition, the contribution may be treated as a charitable deduction to the the extent the federal laws allow. Tax credit may be carried forward during a five-year period. After both state and federal tax benefits are accounted for, a contribution of $10,000 actually costs the company less that 11% or $1,100. LACLT is responsible for securing donations/pledges from for-profit companies with a New Hampshire state tax liability.
CDFA, created by legislation in 1983, is a nonprofit public instrumentality of the State of New Hampshire. CDFA administers nearly $57 million in funding resources, which includes a combination of state Tax Credits and federal Community Development Block Grant, Neighborhood Stabilization, and Energy Reduction Funds. CDFA supports the development of vibrant and resilient communities by providing
resources for community development efforts.
For more information about purchasing tax credits from LACLT in support of their Portfolio Strengthening Initiative contact Hope Jordan at 603-524-0747, or visit www.laclt.org.
Last Updated on Thursday, 24 October 2013 10:11
LACONIA — The next concert of the 2013 Taylor Community Music Series, sponsored by Bank of New Hampshire, will be presented by the Plymouth State University Faculty Woodwind Trio. The event is free and open to the public and is scheduled for Sunday, November 10 at 3 p.m. in Taylor's Woodside Building, Laconia.
The woodwind trio is comprised of Kenda Corcoran, oboe; Aubrie Dionne, flute; and Matthew Marsit, clarinet. The concert will include selections from Beethoven, Haydn and Mozart.
Corcoran is Adjunct Instructor of Oboe at PSU. She is also principal oboe in the Lakes Region Symphony Orchestra. She has more than 30 years of teaching experience in both vocal and instrumental music and is currently the Band Director at Moultonborough Central School. Dionne is an active performer, teacher, conductor and adjudicator in New England. She was recently named principal flutist of the New Hampshire Philharmonic. She is on the faculty of the Manchester Community Music School, PSU and the Summer Youth Music School at UNH.
As an active conductor and clarinetist, Marsit has led ensembles and performed as a solo, chamber and orchestral musician throughout the U.S. He's currently on the artistic staff of the Hopkins Center for the Performing Arts at Dartmouth College as the Director of Bands. He serves as clarinet faculty at PSU.
Last Updated on Wednesday, 23 October 2013 10:43
Lakes Region Spotlight Program on Gilford High Performance "A Funny Thing Happened on the Way to the Forum"
LACONIA — A Musical/Comedy, "A Funny Thing Happened on the Way to the Forum" is the focus of "Lakes Region Spotlight" on LRPA-TV, Metrocast Channel 25. The new feature program is produced and hosted by Carol Granfield of Meredith and started Wednesday October 23.
This program spotlights the ever popular and talented theater performance at Gilford High School.
Last Updated on Wednesday, 23 October 2013 10:40
RUMNEY — Russell Elementary School in Rumney will be conducting its first ever Chili Cook Off on Saturday, November 2 at the Elementary School.
The day will feature a Holiday Craft Fair held from 9 a.m. to 2 p.m. The Chili Cook-Off will be held in conjunction with the Craft fair. Various types of chili are available to be sampled from 11 a.m. to 2 p.m.
All proceeds to benefit from the event will go directly toward the eighth grade class trip.
Last Updated on Wednesday, 23 October 2013 10:17
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