Northway Bank purchased $25,000 in New Hampshire business tax credits from Lakes Region Community Developers (LRCD) to support the final phase of renovations later this year at 193 Court Street, Laconia. LRCD was awarded $200,000 in tax credits and has $9,000 left to sell by May 31st.
 
“This project contributes to revitalization of downtown Laconia and enhances LRCD’s ability to carry out its mission,” said Christopher Dickinson, Senior Vice President, Commercial Banking Group of Northway Bank.  Chris is also a member of the LRCD Board. “As a community bank, we care deeply about housing and community development, which is what LRCD does. Investing in the Court Street project makes perfect sense based on our priorities.”
 
“We are so grateful for partners like Northway Bank,” said Carmen Lorentz, Executive Director of LRCD. “We can’t do our work without the support of our local business community.”
 
In 2019, Lakes Region Community Developers (LRCD) bought the old Walter’s Market building to turn it into their new headquarters and a neighborhood center to host events and trainings for their tenants in Laconia. LRCD planned for two phases of renovations due to funding constraints. Phase 1 included interior renovations, new insulation and siding on the southwest facing exterior wall, and improvements to the front façade of the building. Phase 1 was finished in October 2019.
 
Phase 2 will include drainage and parking lot improvements to enhance safety and accessibility, insulation in the attic, insulation and new siding on the northeast exterior wall and back of the building, and HVAC upgrades.
 
The tax credits are administered by New Hampshire Community Development Finance Authority (CDFA). Any business with operations in NH that contributes to a CDFA tax credit project receives a 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.
 
Businesses interested in supporting this project by purchasing tax credits should contact Carmen Lorentz at (603) 524-0747 ext 110.
 
Lakes Region Community Developers’ vision is for everyone to live in a healthy home and be empowered to succeed. Founded in 1988 as the Laconia Area Community Land Trust, LRCD has developed 365 healthy rental homes in Ashland, Gilford, Laconia, Meredith, Tilton, and Wolfeboro.  In 2017, LRCD expanded its mission to include new types of real estate development and new programming that empowers their tenants to effect positive change in their communities. For more information, visit LRcommunitydevelopers.org.

Northway Bank is an independent community commercial bank, with 16 branches throughout New Hampshire. The Bank was established in 1881 and provides financial solutions for customers, communities, municipalities, and businesses.

LRCD is hosting it's second annual Housing & Economy Snapshot tomorrow, April 15th from 4:00pm to 5:30pm. The virtual event will include a screening of NH PBS' Communities and Consequences II: Rebalancing New Hampshire's Human Ecology and will be followed by a panel discussion. 

 
4PM - 5PM SCREENING OF THE FILM
Communities & Consequences II

5PM - 5:30PM PANEL DISCUSSION WITH
Jay Childs, Film Director
Bonnie Medico, Eastern Lakes Region Housing Coalition
Edith DesMarais, Eastern Lakes Region Housing Coalition

Moderated by Carmen Lorentz, Lakes Region Community Developers

GILFORD VILLAGE KNOLLS III
We completed construction of Gilford Village Knolls III (GVKIII) in 2018. GVK III provides 24 affordable apartments for seniors in the heart of Gilford Village. This was a the third phase of the Gilford Village Knolls campus. GVK III was the first multi-family property in the State of New Hampshire to be Passive House Certified. GVK III was designed to be similar in size and footprint to GVK II.  Comparing GVK II and III shows just how energy efficient GVK III truly is. It’s GVK III’s high performance building envelope and mechanical system that result in it using nearly half of the annual energy consumed by GVK II. When you include the electricity generated by GVK III’s solar array, it uses a quarter of the energy costs compared to GVK II.
 
This is a strong piece of evidence highlighting the great work that made GVK III incredibly energy efficient.

AVERY HILL SOLAR
The installation of a 72.32 kW solar system at our Avery Hill development in Laconia was completed November 2018. Avery Hill is a cluster of duplexes on Grove Street and Lougee Court near the LRGHealthcare campus in Laconia. It was the first property that LRCD redeveloped back in the early 1990s. The Avery Hill solar system eliminates electric bills for 12 apartments at Avery Hill. Data shows that residents are saving an estimated average of 71% on their electrical expenses.  Estimated monthly savings per resident range from $26 to $103 ($54 average) compared to historical billing. Estimated annual savings per resident range from $317 to $1,236 ($645 average) compared to historical billing

PINE HILL SOLAR
In 2020, LRCD completed the third solar project in three years at six of our nine Pine Hill duplexes. Pine Hill was one of the first properties that we redeveloped in Laconia back in the 1990s. After collecting almost a year of data after the installation of solar, residents are saving an estimated average of 50% on their electrical expenses. Estimated monthly savings per resident range from $2 to $132 ($35 average) compared to historical billing. Estimated annual savings per resident range from $23 to $1,584 ($423 average) compared to historical billing.

WHAT DOES IT MEAN TO BE A NEIGHBORWORKS AMERICA GREEN DESIGNATED ORGANIZATION?
 
LRCD became a NeighborWorks Green Organization in 2015. To qualify for this designation an organization must demonstrate a comprehensive commitment to sustainable operations -- both in their lines of business and the corporate operations. Today, LRCD continues its work to promote sustainable business practices by identifying and sharing innovative methods, establishing policy, ensuring adherence to green policies, and encouraging staff and residents to incorporate green practices into their offices, homes, and communities. We believe that when sustainable practices are comprehensively applied, people are healthier, housing is more affordable, employees have a better work environment, communities are more resilient, and organizations are more prepared for the future.

LRCD is hosting it's second annual Housing & Economy Snapshot on Thursday, April 15th from 4:00pm to 5:30pm. The virtual event will include a screening of NH PBS' Communities and Consequences II: Rebalancing New Hampshire's Human Ecology and will be followed by a panel discussion.

4PM - 5PM SCREENING OF THE FILM
Communities & Consequences II

5PM - 5:30PM PANEL DISCUSSION WITH
Jay Childs, Film Director
Bonnie Medico, Eastern Lakes Region Housing Coalition
Kathy Barnard, Eastern Lakes Region Housing Coalition

Moderated by Carmen Lorentz, Lakes Region Community Developers

It has been a busy couple of months as the NH Legislature began to tackle its 2021 session in mostly virtual meetings. There have been many proposals regarding housing affordability this session. Here are the highlights from LRCD’s perspective. A big thanks to Housing Action NH for helping its members (like us) keep track of all that is going on!
 
House Budget Hearing Tuesday. New Hampshire's House Finance Committee has scheduled the first public hearing on the state budget for this Tuesday, March 16th at 1 pm. Housing Action NH, of which LRCD is a member, encourages housing advocates to testify in support of funding for:

• The NH Affordable Housing Fund
• Homeless Services
• Housing Appeals Board

You can register to testify here by selecting House Finance and HB 1. We recommend that you select “neutral.” You can also email your testimony to HouseFinanceCommittee@leg.state.nh.us
 
Housing Toolbox Bill/ HB 586. Following a favorable Ought to Pass recommendation (15-3) from the House Municipal and County Government Committee, HB 586, known as the housing toolbox bill, was tabled by the full House in a vote of 175-172. This is unfortunate because the bill includes important proposals to address housing affordability:

1. economic development tools like TIF districts and community revitalization tax incentives for housing development;
2. improves the predictability of the local approval process; and
3. establishes a new Housing Champion certification program for municipalities.
   
   

Affordable Housing Fund/ SB 127. Senator Majority Leader Jeb Bradley’s bill to provide $10 million to the NH Affordable Housing Fund was incorporated into a Senate omnibus bill on appropriations, SB 127. The hearing before House Finance included testimony in support of the proposal from business leaders, realtors, young professionals and affordable housing advocates.
 
Homeless Services/ SB 140. Senator Cindy Rosenwald’s bill, SB 140, to provide $18 million for homeless services was passed by the Senate 23-1. The bill was amended to source the funding from federal resources. The bill now heads to the Senate Finance Committee.

Thank you to Sheehan Phinney, Stafford Oil, and Wescott Law for supporting LRCD with NH Business Tax Credit purchases!

Our tax credit sales support the continued renovations of 193 Court Street.  In Phase 1, we did all the work we could afford to do to convert the vacant building into our headquarters and the hub of our community building & engagement work in Laconia. These tax credit sales will support Phase 2 which includes: more insulation, new siding on the north and west walls, parking lot improvements, and landscaping.

If your business pays NH business enterprise or business profits taxes in NH, you can redirect a significant portion of your tax liability to a local project like this. Please contact Carmen at CLorentz@LRcommunitydevelopers.org if you are interested in supporting the 193 Court Street Project.

LRCD rolled out our Adult Dental Care program in the Fall of 2020. The rollout included a resource guide that was sent to all our households. The program also includes a limited amount of funding available to help LRCD residents pay for uncovered dental services. The cost-share program is determined on a case-by-case basis and typically grants are for half of the resident's uncovered dental costs.

To date, the program has assisted three residents. Don, a dental subsidy recipient, had this to say about his experience - “LRCD staff was so helpful and gracious through the quick completion of my dental repair needs, which produced improved health and peace of mind. Thank you again for providing this program for our community.” Three more residents are currently working on a treatment plan with their dentists.

The program has been funded by Northeast Delta Dental, NeighborWorks America and Speare Memorial Hospital.

LRCD has organized a book club for our residents. The LRCD Book Club celebrates diversity and inclusion. LRCD purchases the books for residents and guides a virtual discussion on the book's themes and takeaways.
 
March's book is The Heart is a Burial Ground by Tamara Colchester.

When Carol Bickford recently retired from New Hampshire Mutual Bancorp after 37 years of dedicated service, most recently as the Senior Vice President and Retail Lending Officer, the Board of Directors for Meredith Village Savings Bank (MVSB) opted to honor the valued employee with a donation of five thousand dollars to the nonprofit of her choice. We are honored that she selected LRCD.

“We are so grateful to Carol and the Board of MVSB for this donation,” said Carmen Lorentz, Executive Director of LRCD. “Carol has been an amazing advocate and partner for many years, helping us to create affordable housing, provide transitional housing and supports for homeless families, develop new types of real estate to respond to local community needs, and empower families to succeed.”

Congratulations on your retirement, Carol!

Executive Director, Carmen Lorentz, continues to advocate for funding to address housing needs in the Lakes Region. She has participated in several roundtable discussions with our federal congressional delegation in recent months. This news article from January summarizes a housing roundtable convened by Senator Shaheen.
 
Housing advocates tell Shaheen crisis worsening under COVID | Local News | laconiadailysun.com Jan 15, 2021

We are so grateful to you, our funders, donors, partners, and advocates. Thank you for the many forms of support you lent to our mission in 2020.

Thanks to you, we were able to keep all of our 700+ tenants in healthy homes, regardless of their ability to pay rent during this pandemic.

With your help, we created new programs to help tenants overcome barriers to securing reliable transportation and accessing restorative dental care.

Your support enabled us to work on a range of innovative housing and community facility projects that are desperately needed in our community to ensure that everyone in the Lakes Region has a healthy home and is empowered to succeed.

Last year tested our mettle for sure, but more than anything, it illuminated the strength of our community. I cannot begin to fully express the gratitude I feel in my heart today. Every expression of support and every message of encouragement that you collectively gave us last year kept us going through some difficult moments. On behalf of our board, our residents, and our staff, we thank you.

Be safe and be well.
Carmen Lorentz

Thank you to Meredith Village Savings Bank, Main Street America Insurance, Resilient Buildings Group, Melcher & Prescott Insurance, and Leone, McDonnell & Roberts PA for supporting LRCD with NH Business Tax Credit purchases!

Our tax credit sales support the continued renovations of 193 Court Street.  In Phase 1, we did all the work we could afford to do to convert the vacant building into our headquarters and the hub of our community building & engagement work in Laconia. These tax credit sales will support Phase 2 which includes: more insulation, new siding on the north and west walls, parking lot improvements, and landscaping.

LRCD MUST SELL $53,000 BY MARCH 31, 2021

If your business pays NH business enterprise or business profits taxes in NH, you can redirect a significant portion of your tax liability to a local project like this. Please contact Carmen at CLorentz@LRcommunitydevelopers.org if you are interested in supporting the 193 Court Street Project.

LRCD received funds from NeighborWorks America to offer materials to residents in different languages. Our annual community survey and our most recent tenant newsletter were made available in English and Spanish.