The Mechanic Street School project will convert an abandoned school building into six new affordable housing units for Belknap County residents.

CDBG Housing Funds: $425,000

Belknap County received the $425,000 in CDBG Housing Funds in order to subgrant $400,000 to Laconia Area Community Land Trust (LACLT) to rehabilitate the Mechanic Street School, creating six affordable housing units. The project is slated to be completed in mid-2006.

All of the units will be affordable for low to moderate income families. In addition to CDBG funds, the vacant school was purchased and rehabilitated using NH Housing Finance Authority Capital Subsidy Funds in the amount of $500,000, a Rural Development 515 Loan of $250,000 and a $40,000 revolving loan from the Neighborhood Reinvestment Corporation.