Overview of the Community Development Investment Program (CDIP)
CDFA is pleased to offer New Hampshire businesses the unique opportunity to invest and target their tax dollars to community development projects throughout the state in exchange for a 75% State Tax Credit through the Community Development Investment Program (CDIP) in each State Fiscal Year (Period of July 1 through June 30).
This program enables businesses to invest cash, securities, or property to fund economic or community development projects in exchange for this 75% tax credit which can be applied against any or all three of the business profits, business enterprise, or insurance premium taxes. For example, a donor that makes a $10,000 cash investment in one of CDFA’s approved projects will receive a tax credit in the amount of $7,500. An investment is also eligible for treatment as a federal charitable contribution.
Interested donors may contact the projects listed below directly, or contact Chris Conlogue, Community Development Operations Manager via email or at 603-717-9111 for more information on the program.
Tax Credit Opportunities are as of July 2, 2008. Please call for the most recent tax credit availability information.
Below you will find the projects and programs currently fundraising. They are broken out into Economic Development, Community Development, and Housing categories.
ECONOMIC DEVELOPMENT PROJECTS - Currently fundraising
Broadband Infrastructure & Wireless LINC Project for the North Country – Coos, Carroll, and Grafton Counties – sponsored by Northern Community Investment Corporation – will ultimately increase the opportunity for existing businesses, improve education, healthcare, and emergency services and open the door to economic growth. The project will entail three parts: creating infrastructure of fixed wireless technology, establishing a revolving loan fund to provide direct term loans to broadband businesses starting or expanding in the area, and utilizing a virtual support center for end users of the system.
$441,300 is available in current State Fiscal Year 2009 (July 1, 2008 - June 30, 2009)
Contact: Jon Freeman, Executive Director, Northern Community Investment Corporation (802) 748-5101 or email Jon
Mt. Washington Valley Technology Village – Conway – sponsored by Mt. Washington Valley Economic Council – this project entails finishing the interior of the incubator space, as well as extending the road into the Technology Village, which will enable the subdivision of, and subsequent land sale for future development of businesses and industry. This will in turn help to diversify the economic vitality of the area.
$232,000 available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: Jac Cuddy, Executive Director, Mt. Washington Valley Economic Council (603) 447-6622 or email Jac
Coastal Video Conference Center – Seacoast Region - sponsored by Coastal Economic Development Corporation (CEDC), involves the fit-up a meeting room with state-of-the-art video conferencing equipment. The video conference center, under CEDC’s management, will be available on a reservation basis to small businesses in the Seacoast Region, for a nominal fee.
$31,250 available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: Sheila Cragg, Project Administrator, Coastal Economic Development Corp. (603) 929-9244 or email Sheila
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COMMUNITY DEVELOPMENT PROJECTS – Currently fundraising
First Course Culinary Training - Southwestern Region - sponsored by Monadnock Developmental Services (MDS), is a collaborative project between MDS, Monadnock Family Services, Keene Housing Authority and Southwestern Community Services to provide a culinary training program, First Course, for developmentally disabled and at-risk persons in the region. Several employers have already been identified to hire graduates of the program.
$25,000 is available in current State Fiscal Year 2009 Tax Credits (July 1, 2008 - June 30, 2009)
Contact: Bob Elliott, Project Co-Director, Monadnock Developmental Services (603)352-1304 or email Bob
Sullivan County Dental Clinic – Claremont Area - sponsored by Sullivan County Oral Health Collaborative – This project involves remodeling a clinic space to be leased in the city owned Farwell Block in downtown Claremont. The goal is to expand access of affordable dental care to low and moderate-income and uninsured county residents.
$40,000 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: Karen Dewey, Chair, Sullivan County Oral Health Collaborative (603) 543-4295 or email Karen
Children's Museum of New Hampshire – Dover - sponsored by the Children's Museum of Portsmouth – CDIP funds will assist in expanding and relocating the museum to downtown Dover from Portsmouth. Moving to a larger facility will allow the museum to provide more exhibits, broaden its range of programs, and improve their services to schools and families.
$550,000 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009) Contact: Denise Doleac, Executive Director, Children’s Museum of Portsmouth (603) 436-3853 or email Denise
Keene Head Start – Keene Area - sponsored by Southwestern Community Services (SCS) – will purchase and rehabilitate space in the Wright’s Silver Polish Building in downtown Keene to relocate the Keene Head Start Program into a state of the art pre-school facility for children in the program.
$140,000 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: Keith Thibault, Development Director, Southwestern Community Services, Inc. (603) 352-7512 or email Keith
Individual Development Account (IDA) Collaborative – Statewide – sponsored by NH Community Loan Fund – will continue the program which provides a unique incentive ($3 match for every $1 saved) and financial education for low income clients, who would not otherwise have access to conventional financing to build assets, gain further education, start businesses, do home repairs, or purchase a vehicle.
$292,500 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: Alan Cantor, Vice President, Philanthropy, NH Community Loan Fund (603) 224-6669 or email Alan
Franconia Children Center (FCC) – North Country - was awarded CDIP funds to help construct a new childcare facility. The existing FCC, which is currently located in a converted garage, is at full capacity serving nearly 50 children. The new FCC will be licensed to serve nearly 70 children.
$219,000 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: David Weed, Board Vice-President, Franconia Children Center (603) 444-0044 or email David
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Family Willows – Manchester – sponsored by Families in Transition (FIT) – will convert the Our Lady of the Cedars Church in Manchester into a 29-unit housing facility and substance and mental health service center called the Family Willows. It will provide 10-units of transitional housing and 19-units of permanent supportive housing to chronically homeless single women with children.
$145,000 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: Maureen Beauregard, Executive Director, Families in Transition (603) 641-4746 or email Maureen
Wolfeboro Workforce Housing I & II– Wolfeboro – sponsored by Eastern Lakes Region Housing Coalition – to construct 24 units of rental housing for families whose incomes fall between a range of 50% and 60% of Wolfeboro’s Area Median Income. The units will help to address the lack of affordable housing for the majority of the workforce in Wolfeboro.
$125,000 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009) and $250,000 is available in State Fiscal Year 2010 (July 1, 2009 - June 30, 2010)
Contact: Edith DesMarais, Chair, Eastern Lakes Region Housing Coalition, Inc. (603) 569-2512 or email Edith
Crotched Mountain Workforce & Disability Housing Project – Greenfield - sponsored by Crotched Mountain Rehabilitation Center, CDIP funds will help construct 26 units of affordable co-housing on its campus. The units will be for Crotched Mountain clients as well as people who work at the facility. There will also be a “common house” for community meals, guest bedrooms, and meeting space.
$555,000 is available in current State Fiscal Year 2009 (July 1, 2008 – June 30, 2009)
Contact: Michael Redmond, Vice President for Advancement (603)547-3311 x 1479 or email MichaelMonadnock Township - Cheshire & Sullivan Counties - sponsored by Southwestern Community Services (SCS), CDIP funds will assist SCS in developing both affordable rental housing and homeownership opportunites for those households earning 80 to 125% of the area's median income.
$290,000 is available in current State Fiscal Year 2009 (July 1, 2008 - June 30, 2009)
Contact: Keith Thibault, Chief Development Officer (603)719-4208 or email Keith
For more information about CDFA and its programs, contact Chris Conlogue, Community Development Operations Manager at 603-717-9111 or at cconlogue@nhcdfa.org.
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