TD Bank, through the TD Charitable Foundation, the charitable giving arm of TD Bank, America’s Most Convenient Bank® awarded the Laconia Area Community Land Trust (LACLT) a $10,000 contribution to support its affordable housing development.
“We believe that organizations such as LACLT’s play a significant role in sustaining vibrant and thriving communities,” said Steve Webb, Market President for TD Bank. “The TD Charitable Foundation carries a legacy of supporting not-for-profit institutions and their important work throughout our region and Laconia Area Community Land Trust is a true partner in this work.”
The goal of LACLT’s Housing Development Program is to increase the supply of high-quality, permanently affordable housing available to the Laconia community and surrounding towns. LACLT’s apartments are rented to low- and moderate-income families at below market rents. LACLT apartments are currently home to 535 adults and children; over 2,500 people have been housed to date.
Laconia Area Community Land Trust, a 501(c)(3) nonprofit, is a member of NeighborWorks® America, and is supported in part by membership donations and the Lakes Region United Way. Its mission is to assist low and moderate income families achieve economic self-sufficiency through the development of permanently affordable housing opportunities and associated support programs. For more information about LACLT and its programs, call 603-524-0747, or visit www.laclt.org.
A staunch commitment to active involvement in the local community is a vital element of the TD Bank philosophy. TD Bank, America’s Most Convenient Bank® and the TD Charitable Foundation provide support to affordable housing, financial literacy and education, and environmental initiatives, many of which focus on improving the welfare of children and families.
About the TD Charitable Foundation
The TD Charitable Foundation is the charitable giving arm of TD Bank N.A., which operates as TD Bank, America’s Most Convenient Bank®, and is one of the 10 largest commercial banking organizations in the United States. The Foundation's mission is to serve the individuals, families and businesses in all the communities where TD Bank operates, having made more than $159.8 million in charitable donations since its inception in 2002. The Foundation’s areas of focus are affordable housing, financial literacy and education, and the environment. More information on the TD Charitable Foundation, including an online grant application, is available at www.TDBank.com.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.
Laconia Area Community Land Trust (LACLT) recently completed a 65 unit preservation project purchasing 40 units in Ashland and 25 units in Meredith. Originally developed with Rural Development USDA financing, the affordability for the Meredith units was due to expire now and the Ashland units in a few years. By creatively consolidating the two properties, LACLT was able to save the imminently expiring 25 units as well as preserve the other 40 units as permanently affordable.
The housing was originally developed by the late Dave Hodges Sr. of the Hodges Companies. The company wanted to honor his legacy and commitment to affordable housing and approached LACLT to do so. LACLT was among the first in the nation to work with Rural Development to creatively purchase, refinance, and renew the subsidy and affordability of these expiring projects. “We’re grateful to the Hodges Companies who could have easily put them on the market and sold to the highest bidder- and to Rural Development who went the extra mile to make this successful” said LACLT founding Executive Director Linda Harvey.
In honor of Harvey the properties have been renamed Harvey Heights. She states, “Saving decent affordable housing means saving a critical community asset. I was very surprised and honored to learn that the LACLT staff and Board chose this name for the properties. Affordable housing is an integral part of any community’s healthy housing mix, ensuring diversity, opportunity, and a labor force for essential community services.”
LACLT will seek financing for rehab and upgrades to the 65 units. Upgrades will include new energy efficient heating systems, replacement of windows to improve building envelope, replacement of roofs, on-site recycling, and many others.