LRCD | Latest News - Lakes Region Community Developers

Latest News - June 2024

6/17/2024

Linden Foundation Grant for Pre-development Activities

The Linden Foundation recently made a grant to Lakes Region Community Developers (LRCD) to establish a dedicated pre-development fund at LRCD, which will be used to pay for expenses necessary to get affordable housing developments permitted and funded. The grant will enable LRCD to expand its pipeline of housing developments to better meet the significant need for affordable housing in the Lakes Region.

“It typically costs us $300,000 to get that shovel in the ground and start construction on one housing development,” said Carmen Lorentz, LRCD Executive Director. “We only have so much capital on reserve, so it’s been a big constraint on production. These funds will enable us to be working on more projects at the same time, so we can increase our rate of production of affordable housing.”

Typical pre-development expenses include deposits to secure purchase agreements on sites, as well as professional services, including architectural, engineering, environmental, legal, and financial services.

“The Linden Foundation was looking for ways to make a bigger impact on the housing crisis that is affecting so many families,” said Chaletta Huertas, Grants Advisor to the Linden Foundation. “We are pleased to make this significant investment in LRCD’s efforts to develop more affordable housing.”

All Gale School Tax Credits Sold

Thank you so much to Wood & Clay and Quality Insulation for buying the last of our Gale School tax credits right at the May 17 deadline! Wood & Clay has generously supported this project with tax credit purchases in 2021, 2022, 2023, and 2024.

Thanks to the generosity of local companies like these, we were successful in selling $1,000,000 in NH tax credits to help pay for the $4 million renovation of the 1894 Gale School building in Belmont. When renovations are complete, the building will house a child care center on the first floor operated by Lakes Region Child Care Services / Boys & Girls Club and a program center for Lakes Region Community Services on the second floor.

These tax credits were awarded to us by the NH Community Development Finance Authority, which supports community and economic development projects across New Hampshire.

Pictured above from left to right: Shannon Robinson-Beland, co-owner of Wood & Clay; Duncan Simons, Meredith branch manager at Quality Insulation; and Robert Perras also of Quality Insulation.

Housing Advocates:
Kat Johnson & Reuben Bassett

Carmen Lorentz accepts a check from Kat Johnson and Reuben Bassett of Keller Williams Coastal and Lakes & Mountains.

“As commercial real estate agents, business owners, and community members, we understand the complex need for affordable housing in our communities,” said Reuben Bassett. “As we continue to see the challenges facing our cities and towns as a result of the lack of affordable housing, it's an easy choice to support an organization like LRCD that is pursuing solutions to help address these issues.”

Thank You Keller Williams! We are so grateful for your support.

We need the financial support of our local business community in order to produce more units of affordable housing for essential workers. Most housing developments that we undertake cost us $300,000 before we can get a shovel in the ground.

Email [email protected] today if your business would like to be a Housing Champion or Advocate.

Target Circle Program - Only 13 days left to vote (ends June 30)

Don't forget! We have been chosen to participate in a special charitable giving campaign, sponsored and funded by Target. And you have the chance to help direct a portion of Target’s donation to us!

Now through June 30th, vote for us through the Target Circle program to help determine how Target’s donation will be divvied up. To vote for us, click HERE.

We’re asking our supporters to help us make the most of this incredible opportunity. Every vote counts to help us receive a portion of the available Target funds as we continue our mission to create opportunities for the Lakes Region to thrive by developing healthy homes, creating vibrant community assets, and engaging residents.

Thank you for your support!

A Big NH Gives Thank You

Thank you to everyone who supported us during last week's NH Gives fundraising campaign. We are thrilled to share that we raised $7,700! These funds will be a big help as we continue to do our part to prevent homelessness.

NeighborWorks Week 2024

During NeighborWorks Week (June 1-8), we celebrated all the great projects LRCD residents worked on together this spring to improve their neighborhoods, including neighborhood clean-up days and lots of community gardens!