Longtime partner Gary Chicoine Construction Corporation is working on rebuilding local housing in a new way -- by purchasing $30,000 in tax credits from the Laconia Area Community Land Trust (LACLT).
Last year, LACLT was awarded a total of $500,000 in tax credits to sell by New Hampshire’s Community Development Finance Authority (CDFA). Once the credits are sold to business donors, LACLT can use the proceeds to continue upgrading 60 units of permanently affordable rental housing in Laconia.
As a new nonprofit housing organization 20 years ago, LACLT began rehabbing scattered-site apartments in Laconia to create permanently affordable housing for families with low and moderate incomes. Now with the tax credits to fund a Portfolio Strengthening Initiative for these properties, LACLT will further invest in these community assets by installing new “green” flooring and energy-efficient fixtures, among other capital improvements.
Laconia Area Community Land Trust 658 Union Avenue Laconia, NH 03246 603.524.0747