(Concord, NH) The Community Development Finance Authority’s Board of Directors will hold a walking tour of downtown Keene to conduct site visits to the many community development projects it has financed. Included in the October 9th tour will be such landmarks as the Colonial Theatre, the Hannah Grimes Marketplace, and the new Cheshire County Courthouse, as well as the Monadnock Community Market, Keene Headstart, and the Lane Hotel.

“In the mid-90s, CDFA awarded $5.5 million to the Keene Downtown Revitalization Project and has since awarded millions in tax credits and CDBG grants to many other area initiatives,” said Kevin Flynn, CDFA Communications Director. “The Board wants to see firsthand the impact these projects have had on Keene and congratulate our community partners for their excellent work.”

In the past five years, CDFA has awarded $17.5 million in Cheshire County in the form of tax credits and Community Development Block Grants. Past recipients of CDFA awards include the City of Keene, the Monadnock Economic Development Corporation, Southwest Community Services, the Hannah Grimes Center, NH FastRoads, the Keene Housing Authority, the Keene Family YMCA, Monadnock Family Services, Keene Headstart, the Troy Redevelopment Group, and the Park Theatre.

“Later that evening, the Board will host an appreciation event for the dozens of area businesses that have contributed to these projects by purchasing CDFA tax credits. Downtown Keene has been completely transformed because these business leaders have supported this public/private partnership,” said Flynn.

The CDFA Tax Credit Program, also known as the Community Development Investment Program (CDIP), enables businesses to invest cash, securities, or real property to fund CDFA-approved projects in exchange for a 75% state tax credit. It can be applied against the New Hampshire business profits, business enterprise, and insurance premium taxes. The organizations that are awarded state tax credits are responsible for raising donations in the amount of their tax credit award from for-profit businesses that have a New Hampshire state tax liability. Each year, CDFA allocates $5 million in tax credit awards.
 

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 CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.