We are proud to support Mill City Park (MCP) in Franklin with the purchase of $25,000 in tax credits through the New Hampshire Community Development Finance Authority (CDFA). Funds support the organization’s goal of developing both land and water components into a whitewater park along the Winnipesaukee River adjacent to downtown Franklin, the first of its kind in New England.
The land-based part of the park, which recently broke ground, is expected to open in time for the start of summer 2021. This will include basic infrastructure amenities, a parking lot, graded trails, and river outlook points. The groundbreaking for the first white water feature on July 12th, and the park will open for the most adventurous park-goers by mid-September. Two additional white water features will open during the summer of 2022.
Merrimack’s support contributes to the overall development of the area, which involves the construction of in-river, Olympic-style features for board surfing, rafting, and kayaking, along with a 1,200 foot stretch of the river and “channelization” at three locations in the river that will provide for whitewater conditions year-round.
Other features of the master plan include an outdoor recreation area, an amphitheater and pavilion, multi-purpose trails and walking paths with benches and seating areas, a climbing wall, gardens, and various viewing spots for water competitions. When finished, the park will consist of 13 acres, with an adjacent 21 conserved acres and three whitewater features. The primary goal of all improvements is to connect the community to the river.
“We are always excited to do as much as we can to support development opportunities that provide an economic boost for downtown businesses in our communities,” said Linda Lorden, President of Merrimack County Savings Bank. “Mill City Park’s project offers multi-use opportunities for the Winnipesaukee River in downtown Franklin, making it a unique destination for kayak enthusiasts, as well as lots of outdoor recreation and enjoyment for everyone.”
“We’re very thankful for Merrimack’s support of our organization, mission, and goal to make Franklin the whitewater kayaking mecca of New England,” said Marty Parichand, Executive Director. “The Winnipesaukee River once powered seven mills in downtown Franklin in the heyday of the city’s industrial era and will now power its economic renaissance again, thanks to assistance from the Merrimack and other contributors.”
For more information or to support the Mill City Park at Franklin Falls, visit https://www.millcitypark.com/.
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 Community Development Finance Authority (CDFA). Any business with operations in NH that contributes to a CDFA tax credit project receives an NH state tax credit worth 75% 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 NH 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. For more information, visit nhcdfa.org.