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Monday, July 21, 2014

$6M tax credits to go to projects

CONCORD (AP) – A senior housing development in Keene, a walking trail in Salem, and a church-turned-art lab in Manchester are among the 14 New Hampshire nonprofits that have been awarded nearly $6 million in state tax credits. The amount has been awarded through the Community Development Finance Authority Tax Credit Program. The tax credits allow for more than $25.6 million in leverage for the projects.

Companies that donate to the approved projects can get a 75 percent business tax credit against their contribution. This credit can be applied against the New Hampshire business profits, business enterprise, or insurance premium taxes. The organizations awarded state tax credits are responsible for raising the donations. ...

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CONCORD (AP) – A senior housing development in Keene, a walking trail in Salem, and a church-turned-art lab in Manchester are among the 14 New Hampshire nonprofits that have been awarded nearly $6 million in state tax credits. The amount has been awarded through the Community Development Finance Authority Tax Credit Program. The tax credits allow for more than $25.6 million in leverage for the projects.

Companies that donate to the approved projects can get a 75 percent business tax credit against their contribution. This credit can be applied against the New Hampshire business profits, business enterprise, or insurance premium taxes. The organizations awarded state tax credits are responsible for raising the donations.

“Projects selected this year will address neighborhood blight, provide affordable housing, increase economic development, and reduce reliance on public services,” said Board Chairwoman Janet Ackerman.

The projects include a senior housing development in Keene’s Railroad Yard, efforts to rehabilitate blighted buildings in Manchester, and community development projects along Littleton’s Main Street.

Others include expanding a food pantry in Milford, Boys and Girls Club buildings in Suncook and Laconia, and improving a theater in Jaffrey.