CDFA Tax Credit Program

Concord Coalition to End Homelessness was awarded $500,000 in New Hampshire Community Development Finance Authority (CDFA) tax credits to help develop a commercial property on South State Street in Concord into eight one-bedroom units that will provide Permanent Supportive Housing with project-based rental assistance for individuals exiting homelessness. CCEH’s original Resource Center was housed on the first floor of the building from 2008 until 2017: this truly would be coming home for CCEH to turn this property into housing for our clients!

6 South State Street in downtown Concord; a commercial building that once housed CCEH’s Resource Center.

Blueprints for one of CCEH’s previous development projects.

Construction at one of CCEH’s development projects.

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.
• Donations are eligible for treatment as a federal charitable contribution, increasing tax efficiency of a gift to near 90 percent, depending on the business and its unique tax situation.
• 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.

CDFA’s tax credit program is a great way for NH businesses to use their state tax dollars to support local projects and organizations.

If you are a NH-based business and would like to see some of your tax dollars directed to CCEH, please contact Karen Jantzen, Executive Director, at karen@concordhomeless.org to learn more before they run out!

Proposed blueprints for 6 South State Street, first floor

Proposed blueprints for 6 South State Street, second floor

A big thank you to the businesses who have already pledged to support this project!