CATCH NEIGHBORHOOD HOUSING RECEIVES FUNDING FOR SECOND PHASE OF BOW HIGHLANDS

New Hampshire Housing approves tax credits to expand affordable housing development

BEDFORD, N.H. – November 7, 2013 – (RealEstateRama) — New Hampshire Housing’s Board of Directors recently approved Low Income Housing Tax Credit (LIHTC) funding for the expansion of Bow Highlands, a CATCH Neighborhood Housing development that offers affordable rents for individuals and families. Sixteen townhouse style apartments will be added to the development as a result of the funding.

The LIHTC program grants federal income tax credits over a 10 year period to eligible projects. The credits are then purchased by private investors, who become limited partners in the projects and reduce the need for public subsidies. LIHTC projects have a track record of boosting local economies as they generate construction-related jobs, promote local investment, and help create housing that is affordable for local workforces.

“We are so thrilled to have New Hampshire Housing’s support for the expansion of affordable rental housing through Bow Highlands’ second phase,” said Rosemary Heard, President of CATCH. “The first phase of these beautiful apartments has provided a much-needed addition to the range of local housing options, and thanks to New Hampshire Housing’s tax credit allocation, the second phase will allow even more families to find homes they can afford.”

“We’re pleased to support CATCH’s efforts to expand the availability of affordable housing in Bow,” said Dean Christon, Executive Director of New Hampshire Housing. “Through these housing tax credits, they will be able to build something that not just houses people, but also creates local jobs and positively impacts the community.”

CATCH Neighborhood Housing is a 501(c)3, non-profit organization offering a full spectrum of housing and education services in Merrimack County, New Hampshire. It prides itself on creating innovative housing solutions for low- or moderate- income individuals and families.

About New Hampshire Housing Finance Authority: New Hampshire Housing Finance Authority is a self-supporting public benefit corporation. The Authority operates a number of rental and homeownership programs designed to assist low- and moderate-income persons with obtaining affordable housing. Since its inception, New Hampshire Housing has helped nearly 40,000 families purchase their own homes and has been instrumental in financing the creation of more than 14,500 multi-family housing units. More information about its programs can be found on the agency’s websites at www.nhhfa.org and www.GoNewHampshireHousing.com.

Contact Jane Law
Phone: (603) 310-9255