(Concord, NH) The NH Community Development Finance Authority (CDFA) has approved awards to fund three feasibility studies for community development projects around the state. The planning grants, funded by the federal Community Development Block Grant program, will allow local officials to assess the likelihood of success for these housing and public facilities efforts.
“Each year, CDFA sets aside money to fund these planning grants. It removes that first financial barrier for cities and towns, allowing them to gauge the feasibility of implementation and funding,” said Kevin Flynn, Communications Director for the CDFA. “It helps insure communities come back to us with the strongest CDBG proposals possible, ones that benefit the greatest number of low-to-moderate income residents in their area.”
The planning grants approved include:
- $12,000 to the Town of Gorham on behalf of the Gorham Community Learning Center (GCLC). This feasibility study will evaluate potential sites for relocating the facility to increase the number of children served and expand of their services. GCLC is hoping the move would allow them to not only increase the number of children served to 50, but would also allow for therapists to better serve the children with special needs.
- $12,000 to the Town of Belmont on the behalf of the Lakes Region Cooperative. This engineering study will examine the water, sewer, and electrical infrastructure at the resident-owned manufactured housing community and to provide cost estimates for improvements. Several of the homes have lost service due to the age of the electrical banks and because of the additional electrical loads some of these homes now require due to modern appliance utilization.
- $12,000 to the Town of Plymouth on behalf of the Whip-O-Will Cooperative to fund an engineering study. This will examine the condition of the park’s infrastructure, including water, sewer, roads, and electricity, which are showing signs of deterioration. The study would also provide preliminary cost estimates for improvements and identify potential financing packages. The Cooperative needs the study in order to set realistic and manageable objectives for capital improvements to the overall infrastructure.
The objectives of CDBG feasibility study grants are to determine whether or not a proposed CDBG project is feasible and/or to recommend specific actions to be undertaken, and that at least 51% of the intended beneficiaries will be of low or moderate income. Eligible activities include income surveys, preliminary architectural and engineering design, cost estimates, and market analysis.
The planning grants await final confirmation from the Executive Council.
The CDBG program funds provide housing and create jobs primarily for low- and moderate-income people. Funds are provided to the state of New Hampshire by the US Department of Housing and Urban Development, and administered by CDFA.Each project is evaluated on several criteria, including impact on low- and moderate-income residents and the acquisition of matching funding.
CDFA supports the development of vibrant and resilient communities by providing resources for community development efforts.CDFA, created by the Legislature 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. For more information about CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.
Workshop for Newly Updated Economic Development Program
Applicants interested in receiving CDFA tax credits must file their Letter of Intent this day
The Committee will meet Thursday
The Board of Directors will meet Tuesday
Applications for organizations interested in microenterprise funding must be submitted by close of business today.