{"id":11111,"date":"2012-07-26T17:00:33","date_gmt":"2012-07-26T21:00:33","guid":{"rendered":"http:\/\/stateimpact.npr.org\/new-hampshire\/?p=11111"},"modified":"2012-08-06T16:12:42","modified_gmt":"2012-08-06T20:12:42","slug":"affordable-housing-community-theater-and-broadband-expansion-all-benefit-from-cdfa-tax-credits","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/new-hampshire\/2012\/07\/26\/affordable-housing-community-theater-and-broadband-expansion-all-benefit-from-cdfa-tax-credits\/","title":{"rendered":"Affordable Housing, Community Theater And Broadband Expansion All Benefit From CDFA Tax Credits"},"content":{"rendered":"<p>Sixteen New Hampshire organizations are receiving a total of $5.4 million in tax credits from the Community Development Finance Authority for this coming fiscal year. The winning projects were announced Wednesday. Awards include funding for upgrades to Portsmouth\u2019s Prescott Park Pavillion; the conversion of an abandoned Nashua mill into affordable housing units; the rebuilding of Concord\u2019s burned-down soup kitchen; and community theater projects in Peterborough, Lincoln and Manchester. <!--more--><\/p>\n<p>Here\u2019s how it works. Every year since 1999, the New Hampshire legislature sets aside $5 million for the CDFA to distribute to New Hampshire businesses, as tax credits. To receive these tax credits, a business contributes money to a selection of organizations, as determined by the CDFA board. The business then receives a tax credit on 75 percent of the given donation.<\/p>\n<p><div class=\"related-content alignright\"><h4 class=\"related-header\">Related<\/h4><div class=\"links\"><h5>Posts<\/h5><ul><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/05\/17\/would-a-statewide-earned-income-tax-credit-be-good-for-n-h\/\">Would A Statewide Earned Income Tax Credit Be Good For\u00a0N.H.?<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/04\/09\/as-demand-for-job-training-programs-increases-federal-funding-decreases\/\">As Demand For Job Training Programs Increases, Federal Funding Decreases<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/maps\/11072\/\">New \u2018Granite Fund\u2019 To Put Local Capital In The Hands Of N.H. Startups<\/a><\/li><\/ul><\/div><div class=\"topics\"><h5>Topics<\/h5><p class=\"topic\"><img class=\"alignleft\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2011\/08\/5320506554_a9ebc39f23-60x60.jpg\" height=\"60\" width=\"60\" \/><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/topic\/infrastructure\/\">The Essential Guide To New Hampshire Infrastructure<\/a><\/p><\/div><\/div>The money for the tax credits doesn\u2019t come from the general fund, says CDFA\u2019s communications director, Kevin Flynn. But it does represent about $3.75 million in would-be state revenue. \u201cThe trade off,\u201d Flynn explains, \u201cis that we\u2019re getting a return of $42 million.&#8221; In other words, by investing just $5.4 million in community development, the state receives a benefit much higher in value.<\/p>\n<p>Janet Ackerman, CDFA\u2019s Acting Board Chairwoman, says there were too many projects this year, and not enough state tax credits to go around. \u201cThe desire and demand from the business community to purchase CDFA tax credits is strong. The time is coming to increase the allocations to meet this demand.\u201d Something the CDFA may pitch the legislature next year?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sixteen New Hampshire organizations are receiving a total of $5.4 million in tax credits from the Community Development Finance Authority for this coming fiscal year. The winning projects were announced Wednesday. Awards include funding for upgrades to Portsmouth\u2019s Prescott Park Pavillion; the conversion of an abandoned Nashua mill into affordable housing units; the rebuilding of [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":11343,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[53],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/11111"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/comments?post=11111"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/11111\/revisions"}],"predecessor-version":[{"id":11116,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/11111\/revisions\/11116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media\/11343"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media?parent=11111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/categories?post=11111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/tags?post=11111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}