Good News on Gale SchoolWe are excited to announce that Evernorth Rural Ventures has made a reservation of New Markets Tax Credits for the Gale School project, which will provide much-needed equity to round out the financing package in combination with federal Historic Tax Credits. In the coming weeks, we hope to enter into an agreement with a single investor to use both types of tax credits. In the meantime, we have $76,500 in NH business tax credits left to sell by March 31st! If your business would like to support this project, please contact Carmen Lorentz at 603-524-0747 x110 or CLorentz@LRcommunitydevelopers.org. Kara LaSalle Returns as RED DirectorLRCD is very pleased to welcome Kara LaSalle back to the organization as our new Real Estate Development Director. In this role, Kara leads LRCD development activities, overseeing projects from site selection through approvals, financing, and construction to successful completion and turnover to asset management. For the past four years, Kara served as a Senior Community Investments Officer at Evernorth, where she analyzed tax credit opportunities for affordable housing and community development projects and provided real estate development capacity and technical assistance to a range of clients. Kara previously worked at LRCD for six years in various roles, including as Real Estate Development Project Manager from 2017-2019. We are also excited to welcome our new office mascot, Crush (Kara’s adorable Boston Terrier). Sal Steven-Hubbard is Senior Real Estate DeveloperSal Steven-Hubbard is preparing to transition to a part-time role starting in September, after 12 years in the full-time RED Director role. Under Sal’s leadership, LRCD has grown its real estate portfolio by adding:
As a result of Sal’s work in recent years, we will add another 45 affordable rental apartments and hopefully complete renovations of the historic Gale School in Belmont by the end of 2025. Sal’s new title is Senior Real Estate Developer. Caitlin Meaney Promoted to Asset Management DirectorCongratulations to Caitlin Meaney on her promotion to Asset Management Director and on the achievement of her CHAM designation (Certified Housing Asset Manager) from the Consortium for Housing & Asset Management. CHAM is an advanced-level designation that teaches the skills needed to manage the long-term success of affordable housing properties and portfolios. Caitlin has been a valued team member at LRCD since 2014. She served as Resource Development Director for eight years before transitioning into asset management as part of LRCD’s plan to enhance our capacity to manage our growing real estate portfolio. This is the first time we have had a full-time position dedicated to asset management. It is well-timed, as we expect to add another 121 units to our portfolio over the next few years. Legislative UpdateThere have been more than 50 bills related to housing introduced in this session of the NH Legislature - the busiest session ever for housing advocates! Check out Housing Action NH's website for an overview of key bills that the coalition is following this year. First Time Homebuyer SeminarBy respecting and appreciating the diversity within our LRCD communities, we can empower everyone to live their best life and promote equity and justice for all of our residents. We hope you enjoy these resources and events that help you learn about and celebrate the beauty in our differences, while acknowledging our shared humanity. Developmental Disabilities Awareness Month – NACDD Each year, the National Association of Councils on Developmental Disabilities (NACDD) and its partners work together to create a social media campaign that highlights the many ways in which people with and without disabilities come together to form strong, diverse communities. The campaign seeks to raise awareness about the inclusion of people with developmental disabilities in all facets of community life, as well as awareness of the barriers that people with disabilities still sometimes face in connecting to the communities in which they live. 2024 Theme: “A World of Opportunities”We’re celebrating people and working together to remove obstacles. Our goal is to build a community that’s committed to creating a world where everyone can do well and succeed. Join us in making a world where all kinds of people have the chance to thrive. Gale School: March 31st Deadline to Sell $101,500 in Tax CreditsLate last year, NH Community Development Finance Authority awarded us $250,000 in supplemental tax credits for the Gale School redevelopment project in Belmont. We have $101,500 left to sell by March 31st. LRCD seeks to renovate the 1894 school building into a child care center operated by Boys & Girls Club and a community center operated by Lakes Region Community Services. We have been fundraising for this project for three and a half years, and we are near the finish line! If your business would like to support this project, please email Carmen Lorentz at CLorentz@LRcommunitydevelopers.org. Thank you to these local businesses who have made recent tax credit pledges! Meredith Village Savings Bank Miracle Farms Northpoint Engineering Resilient Buildings Group The Hodges Companies LRCD Awarded $25,000 from TD Charitable FoundationLakes Region Community Developers (LRCD) is proud to announce they were recently awarded a $25,000 grant from the TD Charitable Foundation for LRCD’s Affordable Rental Housing Program. The philosophy behind LRCD's Affordable Rental Housing Program is that housing is a platform that all people need to thrive. People who live in healthy, safe, stable housing are better parents, neighbors, and employees. The objectives of LRCD’s Affordable Rental Housing Program are to create housing opportunities for people of low income and to empower them to achieve economic security. To achieve these objectives, LRCD operates, and maintains affordable rental apartments and provides support services to the tenants who live in them. READ MORE... NH Charitable Foundation GrantThank you to the New Hampshire Charitable Foundation for awarding us a $20,000 grant for unrestricted operating support. This grant is made possible by gifts from the Annalee Davis Thorndike Fund, John F. Jr. and Patricia Weeks Fund, and Rogers Family Trust Fund. These grant funds help us continue our work to create new affordable housing opportunities in the Lakes Region. 2023 Eviction Prevention EffortsOur goal is to keep people stably housed through challenging times such as illness, loss of transportation, unemployment, loss of child care, divorce, or any situation that results in a sudden change in income. In 2023, we provided eviction prevention services to: 277 households & and issued 138 payments Totaling $36,007 on behalf of 62 of those tenants. Thank you to our funding partners for making this program possible: NHEC Foundation Linden Foundation Eversource Energy Foundation Inc. Speare Memorial Hospital Legislative UpdateThe New Hampshire Legislature has been busy since the 2024 session began in January. Legislators typically consider over 1,000 bills each session!
This year, there are many legislative proposals to address the housing crisis. We are grateful to our good friends at Housing Action NH for all the work they do to sort through and weigh in on the many bills related to housing and homelessness. LRCD testified in support of Senate Bill 454 which increases the Real Estate Transfer Tax contribution to the state’s Affordable Housing Fund from $5 million to $10 million per year. This bill passed the Senate on February 8. We look forward to supporting this critical proposal as it works its way through the House. LACONIA – Lakes Region Community Developers (LRCD) is proud to announce they were recently awarded a $25,000 grant from the TD Charitable Foundation for LRCD’s Affordable Rental Housing Program. The philosophy behind LRCD's Affordable Rental Housing Program is that housing is a platform that all people need to thrive. People who live in healthy, safe, stable housing are better parents, neighbors, and employees. The objectives of LRCD’s Affordable Rental Housing Program are to create housing opportunities for people of low income and to empower them to achieve economic security. To achieve these objectives, LRCD operates, and maintains affordable rental apartments and provides support services to the tenants who live in them. Over its 30-year history, LRCD has developed 367 rental homes for people of low income in Ashland, Gilford, Laconia, Meredith, Tilton, and Wolfeboro, including the recent preservation and rehabilitation of 65 units in Ashland and Meredith that would have converted to market-rate housing had LRCD not acquired them. LRCD has 131 new rental units in its development pipeline, with hopes to get construction of 45 of those units underway this spring. “This grant is so impactful. It helps us fulfill our mission during a challenging time,” says LRCD Executive Director, Carmen Lorentz. “The housing crisis is dire. We all know someone struggling to find housing they can actually afford. This grant helps us create more affordable housing opportunities for local people who need it.” “TD is thrilled to support the critical work being done through Lakes Region Community Developers to address the affordable housing needs area,” said Sheryl McQuade, Regional President, Metro New England, TD Bank. “Their work to sustain and maintain affordable rental apartments is an important step toward a more economically inclusive future for all individuals and families who call New Hampshire home.” About Lakes Region Community Developers: Lakes Region Community Developers’ mission is to create opportunities for the Lakes Region to thrive by developing healthy homes, creating vibrant community assets, and engaging residents. About the TD Charitable Foundation The TD Charitable Foundation is the charitable giving arm of TD Bank, America's Most Convenient Bank®, one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. Since its inception in 2002, the Foundation has distributed over $323 million through donations to local nonprofits from Maine to Florida. More information on the TD Charitable Foundation is available at https://www.tdbank.com/corporate-responsibility/the-ready-commitment/funding-opportunities/. About the TD Ready Commitment TD has a long-standing commitment to enriching the lives of its customers, colleagues and communities. Under the TD Ready Commitment and its four key, interconnected drivers of: Financial Security, Vibrant Planet, Connected Communities, and Better Health; we are targeting a total of $1 billion by 2030 in community giving to help support initiatives that focus on these drivers. Through the TD Ready Commitment, TD aspires to link its business, philanthropy and human capital to help people feel more confident – not just about their finances, but also in their ability to achieve their personal goals in a changing world. For further information, visit www.td.com/tdreadycommitment. By respecting and appreciating the diversity within our LRCD communities, we can empower everyone to live their best life and promote equity and justice for all of our residents. We hope you enjoy these resources and events that help you learn about and celebrate the beauty in our differences, while acknowledging our shared humanity. Black History Month is an annual celebration of achievements by African Americans and a time for recognizing their central role in U.S. history. The event grew out of a weeklong celebration that began in 1926, the brainchild of noted historian Carter G. Woodson and other prominent African American leaders. They chose the second week of February to coincide with the birthdays of Abraham Lincoln and Frederick Douglass. Since 1976, every U.S. president has officially designated the month of February as Black History Month. Other countries around the world, including Canada and the United Kingdom, also devote a month to celebrating Black history. Here are some resources to help you celebrate Black History Month Welcome to the Block Party! | PBS
PBS offers a curated selection of programs celebrating Black excellence, including history, music, and documentaries. Stories to Celebrate Black History Month - StoryCorps StoryCorps offers a collection of stories to reflect on our shared history and to celebrate the impact of Black historical figures and pioneers. Home - Black Heritage Trail NH The Black Heritage Trail of New Hampshire promotes awareness and appreciation of African American history and life in order to build more inclusive communities today. The Trail offers a variety of programs, including guided tours of historic sites in Portsmouth, NH and lectures and educational events. |