FRANKLIN — Franklin Savings Bank announced that it has purchased $116,500 in CDFA tax credits to close the funding gap on the development of Mill City Park at Franklin Falls. Located in the heart of downtown Franklin, the Park will be the first of its kind in New England and will be situated on 13 acres, featuring several whitewater features, a bike pump track, climbing walls, walking trails, an amphitheater, camping sites, and more.
“We are honored to assist Mill City Park with the final stage of funding needed to move forward with the development of Mill City Park in downtown Franklin,” commented Ronald Magoon, president & CEO. “The Bank stepped forward early on in the fundraising phase with a $250,000 donation to the project in an effort to attract other donors to support this major initiative, which will transform the Winnipesaukee River into a popular destination for individuals with a passion for paddling whitewater rapids, hiking and biking. There is so much activity occurring with the revitalization of downtown Franklin, and Mill City Park will complement all the wonderful things taking shape in the city.”
Mill City Park received a total of $500,000 in tax credits awarded by the Community Development Finance Authority. The bank’s purchase of $116,500 represents 23.3% of the allocation. CDFA tax credits enable businesses to partner with nonprofits to support worthy projects in their communities.
“We are grateful for the generosity of Franklin Savings Bank and all the support it has given Mill City Park over the past few years,” stated Marty Parichand, Founder & Executive Director, Mill City Park. “In addition, their Board of Directors and executive management team have been very supportive of our project; we truly appreciate their assistance with seeing this project become a reality for Franklin.”