LACONIA — Franklin Savings Bank has jump-started the Laconia Area Community Land Trust's (LACLT) tax credit campaign to upgrade its properties by being the first business to purchase $30,000 in tax credits from the nonprofit.
New Hampshire's Community Development Finance Authority (CDFA) recently awarded LACLT $500,000 in tax credits to sell to businesses (statewide, more than $4.1 million was recently awarded through the CDFA Tax Credit Program). Proceeds from the sales will be used to upgrade 60 units of LACLT's permanently affordable rental housing, many of which are showing significant wear and tear.
"We are so grateful to Franklin Savings Bank for being the first business to purchase credits. We will need a lot of participation from the community, and they quickly stepped up. They are a wonderful community bank, and we are delighted by their leadership," said Harvey.
LACLT, which is celebrating 20 years of developing permanently affordable housing in the Greater Lakes Region, is working on a Portfolio Strengthening Initiative for its earliest 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.
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 actual out-of-pocket expense is less than 11% after allowable State and Federal deductions. Tax credits can be purchased to benefit LACLT now through June 30, 2015 and can be used on payment or during a five-year period following purchase.
Franklin Savings Bank provides businesses, organizations and families loan, deposit and investment services throughout Central New Hampshire. Established in 1869, this community bank actively partners with an array of local organizations and activities through financial support and direct participation. With online banking and account opening at its award-winning Internet branch at www.fsbnh.com; investment, insurance & financial planning services offered through Independence Financial Advisors, a wholly-owned subsidiary; offices in Franklin, Bristol, Boscawen, Tilton, Laconia and Gilford; and a home and commercial loan office in Bedford; Franklin Savings Bank effectively serves these and surrounding communities. More information can be found at fsbnh.com and at facebook.com/franklinsavingsbank.
Laconia Area Community Land Trust, a 501(c)(3) nonprofit, is a member of NeighborWorks® America, and is supported in part by membership donations and the Granite United Way. Its mission is to assist low and moderate income families achieve economic self-sufficiency through the development of permanently affordable housing opportunities and associated support programs.
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 Monday, 02 December 2013 10:54
MEREDITH — On Thursday Dec. 5, at 7 p.m. 00 PM, Forrest Seavey will present a "Using Your Camera's Video Mode" program at the Lakes Region Camera Club meeting which will be held at the Trinity Episcopal Church in Meredith.
Seavey is a member of the club and has previously presented a number of interesting programs based on his experiences while photographing, videoing and producing digital slide shows of the White Mountain National Forest and it's many popular hiking trails.Attendees are welcome to bring their cameras if they need assistance with any problems that they may be having using this "Mode".
The Lakes Region Camera Club is a local organization of photographers of many skill levels, and welcomes guests to attend a meeting or two before joining the Club. The Club Meetings are held at The Trinity Episcopal Church on the first and third Thursdays of the month for presentations, competitions, field trips, and other activities. Scheduled meeting times are 7-9 p.m.
Last Updated on Monday, 02 December 2013 10:45
MEREDITH — On Saturday, December 7, from 10 a.m. to 12 noon, the Friends of the Library will hold an open house in the main reading room at the Meredith Public Library.
Visitors will get to see where the fire proof vault is located as well as the other features of this National Historic Landmark. The Library Trustees will be conducting tours of the Benjamin Smith Memorial Library which opened in 1901.
Last Updated on Monday, 02 December 2013 10:25
MOULTONBOROUGH — State Representative Glenn Cordelli, representing Tuftonboro, Moultonborough, and Sandwich, will have a Town Hall meeting at the Moultonborough Public Library on Wednesday, December 4 at 6 p.m.
Representative Cordelli will discuss the recent Medicaid expansion special session of the legislature as well as preview the upcoming session starting in January. He will discuss several pieces of legislation that he is sponsoring regarding education standards and student data privacy.
In addition, Representative Cordelli is co-sponsoring several bills dealing with the business enterprise tax and regulation of maple products. He also co-sponsored a bill of Representative Jane Cormier regarding regional planning commissions and Granite State Futures. He has invited Representative Cormier to present her bill and discuss the reasons that this legislation is needed.
Last Updated on Monday, 02 December 2013 10:13