MVSB recently purchased $10,000 in tax credits through the New Hampshire Community Development Finance Authority (CDFA) in support of the Southeast Land Trust of NH (SELT). These funds will support the continued construction of the new Mathey Center for People and Nature, located at the 240-acre Burley Farms in Epping. This is in addition to a previous $10,000 tax credit purchase from the Bank earlier in 2021.
The Mathey Center for People and Nature will help provide significant benefits to the local region through their working farm, community meeting space, recreational trails and two workforce housing units. SELT will also move operations to this site, which lies at the center of their 52-town service area.
“We’re very thankful to MVSB for their continued commitment,” said Beverly Shadley, Deputy Director of SELT. “We are on track to move into the Mathey Center in March 2022 and we are excited to transform Burley Farms into a hub of community-based conservation, recreation and education.”
“MVSB is happy to continue to support SELT and their construction of the Mathey Center,” said Jim Carrigan, Regional Vice President, Branch Manager. “We are proud to support this initiative that will both preserve and bring new resources and recreation opportunities to our community.”
The Southeast Land Trust (SELT) conserves and stewards land for the benefit of people and nature in New Hampshire. SELT serves 52 towns and cities of Rockingham and Strafford counties and has conserved tens of thousands of acres since 1980, including nature preserves, hiking trails, farmland and scenic vistas. SELT relies on its annual contributing members, committed Board of Directors, and talented staff and volunteers to keep advancing critical conservation initiatives in their region. Go to www.seltnh.org to find out more about the organization and ways you can support them.
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.