Beck Reposa, MVSB AVP Branch & Business Development Officer (left), and Alyssa Richard, MVSB Universal Banker (right), present a donation to The Home Possible Board Members Cheryl Larose, Dorothy Piquado, Lisa DiMartino and Joel Fisher at the MVSB Gilford branch office.
The New Hampshire Community Development Finance Authority recently awarded tax credits to The Home Possible Project, a Lakes Region nonprofit providing long-term supportive housing for adults with developmental disabilities. The organization is fundraising to build a new community residence in Gilford, which will feature 12 private individual apartments, a shared kitchen and dining room, family room and more. MVSB is proud to purchase $10,000 in tax credits to support their efforts.
“We are grateful to MVSB for this generous donation, which brings us one step closer to building our flagship community residence for adults with developmental disabilities,” Lisa DiMartino, Board Chair, The Home Possible Project. “Our goal is to promote independence, foster a true sense of belonging and create a warm, inclusive environment where residents can thrive.”
“At MVSB, we are committed to supporting organizations that strengthen our communities and create opportunities for individuals to live fulfilling lives,” said Cathy Sleeper, MVSB Regional Vice President. “The Home Possible Project’s vision for inclusive housing will have a lasting impact in the Lakes Region, and we are honored to play a role in helping bring it to life.”
Go to homepossiblenh.org to learn more about the organization.
CDFA tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75 percent of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows New Hampshire businesses to use their state tax dollars to support local projects that they care about. CDFA reviews many project applications each year, and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state. Visit nhcdfa.org for more information.
