MVSB recently purchased $25,000 in tax credits through the New Hampshire Community Development Finance Authority (CDFA) in support of the capital campaign for Hope on Haven Hill.
“These funds will support the continued construction of our multi-purpose program center in Rochester that will allow us to serve many more families,” said Kerry Norton, Executive Director of Hope on Haven Hill. “Once the center is constructed, we will be able to launch a workforce development program to help the women we serve attain and retain housing and employment. We are thrilled about the support we have received from MVSB and the rest of the community.”
“We are proud to support Hope on Haven Hill and we are grateful for the work they do,” said Jolene Whitehead, Branch & Business Development Manager in Rochester. “We understand the importance of their services to support women in need and their families in New Hampshire.”
Hope on Haven Hill provides gender-responsive residential, outpatient and recovery support substance use disorder services for pregnant, post-partum and parenting women in New Hampshire. They also provide recovery support housing for women and their children as well as case-coordination for women seeking resources and support on their journey to access treatment and recovery support services. Go to www.hopeonhavenhill.org for more information.
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.