BEDFORD, N.H. – January 28, 2010 – (RealEstateRama) — At its recent meeting, New Hampshire Housing Finance Authority’s Board of Directors approved funding for two rental housing projects: Bow Highlands in Bow and Lochmere Meadows in Tilton.
Bow Highlands will be located on a 58-acre parcel of land, which was initially approved for 42 townhouse-style condominium units. The project sponsor, Concord Area Trust for Community Housing (CATCH), will construct 20 units of rental housing on the site. Tax Credit Assistance Program (TCAP) funds made available through the American Recovery and Reinvestment Act (ARRA) of 2009 will be used to finance this project.
Lochmere Meadows, sponsored by Laconia Area Community Land Trust (LACLT), will be located two miles from downtown Tilton. Four buildings consisting of 28 two-bedroom units will be constructed, and all of these units will serve low-income households with U.S. Rural Development (RD) rental subsidies. This project will also receive TCAP funds.
New Hampshire Housing Finance Authority is a tax exempt, public benefit corporation established by the state legislature. The Authority operates a number of programs designed to assist low- and moderate-income persons to obtain housing. Since its inception, New Hampshire Housing has helped more than 37,000 families purchase their own homes and has been instrumental in financing the creation of more than 14,000 multi-family housing units. More information about its programs can be found on the agency’s Web site at www.nhhfa.org.