MVSB buys tax credits to support Belknap Mill

CONCORD — Meredith Village Savings Bank recently purchased $75,000 in tax credits from the New Hampshire Community Development Finance Authority to support the Belknap Mill in Laconia. The bank’s investment will allow the mill to maintain its 196-year-old structure and support the museum’s cultural and educational programming.

“Contributions like this one make it possible for us to continue sharing the arts, education and important history to members of the community and beyond," said Karen Prior, executive director for Belknap Mill. The mill has four stories and houses a museum, art gallery, and event venue. Designated as the official meetinghouse for the state, it is also the oldest unaltered brick textile mill in the U.S.

“Meredith Village Savings Bank and our employees are thrilled to support the Belknap Mill. We’re especially proud to further their mission of becoming an epi-center for culture and education,” said Rick Wyman, president of MVSB. “It’s very rewarding to be able to make contributions to outstanding organizations like this one.”

Tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. Tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a state tax credit worth 75 percent of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability. For more information, visit nhcdfa.org.

For more information about the Belknap Mill, visit belknapmill.org.

To learn more about Meredith Village Savings Bank, call 800-922-6872, or visit mvsb.com.