Welcome to New Hampshire’s Business. I’m Fred Kocher. Two of New Hampshire’s most critical issues, housing and homelessness, are getting *** timely boost from tax credits. Yes, I said tax credits being issued by the state of New Hampshire and used by New Hampshire businesses in exchange for their investments. Unique investment tax credits by CDFA, 75% tax credit against state business taxes, the BPT, that’s the business profits tax, the business enterprise tax, and the insurance. An issued by New Hampshire Community Development Finance Authority to New Hampshire businesses investing in community projects. Now the CDF funding CDFA funding in 2024, 25.6 million, 117 projects, and 152 business donors. Examples tax credit awards to Portsmouth Housing Authority, Ano Economic Development Corporation, the Boys and Girls Club of Greater Nashua, and there’s another one. And this is *** guess. Family Promise of Southern New Hampshire provides housing and case management for homeless families, using tax credits for business funding to expand residual, let’s say it, transitional housing in Derry for families temporarily homeless, *** total tax credit award 700. 75,000 for expansion and prevention with me to explain this unique investment tax credit is the executive director of New Hampshire’s Community Development Finance Authority Catherine Esterley Marty and Pam Wellman, executive director of Family Promise of Southern New Hampshire. Good to have you here in the studio. Now, let me ask you, Katie, before we go further, explain to me how this investment tax credit works. Let’s say I’m *** business owner, I’m going to invest in *** housing project in my community and I want *** tax credit in in return. Absolutely it’s very simple we act as the conveyor of this public private partnership, so *** business would actually come on our website, see the nonprofits that received an award of tax credits, and they can donate, make *** pledge right on our website. We then provide them the invoice and then the follow up, uh, documentation that’s necessary, and they can take that 75%. Tax credit on their business profit business enterprise, and it’s competitive it is so the nonprofits compete for the allocation of tax credits. We get about double the number of nonprofits and we have awards. What kind of projects are you are you uh issuing tax credits? Yeah, so childcare facilities, housing projects, downtown revitalization, really things that make our communities strong. Yeah, um, we can report the legislature is on track to increase the cap on the grants you could make, uh, from 5 million to $10 million especially for housing. Yes, so they’re on contract, uh, SB 158 to increase the tax credit from 5 million to 10 million. We always have much more demand for amazing projects throughout our communities and across the state than we have tax credits, so this would give us an ability to really fund those additional projects and have that business investment. Now one of the awards was to you, Pam, and, uh, Family Promise of uh uh Southern New Hampshire. And uh you uh you are using the tax credits I understand to expand traditional housing for *** homeless facility for families in Derry, um, which suggests that housing for that is too short for families is too short in the state, and that the uh number of families is increasing that are homeless. Family homelessness is one of the rising increased homelessness, um, populations in the state. And federally, nationally, yes, and, and so that is your main focus then is housing for these homeless families. We’re *** nonprofit organization that provides housing prevention and supportive services to low low to middle income families um throughout southern New Hampshire. We work in all of Hillsborough County and Rockingham counties, and you just received *** major purchase of tax credits from *** major New Hampshire business. Tell us about that and we have to. Do *** shout out to um Brady Sullivan who purchased $200,000 in tax credits from Family Promise of Southern New Hampshire. Family Promise of Southern New Hampshire, and, and Family Promise is around the country. I understand. We are *** national, one of the leading national homelessness organizations, um, with over 230 affiliates in 45 states. Let me ask you briefly, are both of you finding enough? Businesses to do what you do. Yeah, we do have businesses every year that commit to that $5 million but we’re always looking for new businesses. We have donors that provide *** $500 donation and then up to the maximum, which is *** million dollars donation. Really businesses of all size can give to their you’re finding enough business to buy the credits. We are finding businesses to buy the credits once they understand the. Program how easy it is and what *** tremendous advantage it is to to any corporation or business they sign up. It’s just an amazing opportunity and we’re gonna leave it there, uh, Catherine Esterley Marty, executive director of the uh Community Development Finance Authority, thank you and Pam Wellman, executive director of Family Promise of Southern New Hampshire, thanks *** lot. And if you missed part of this briefing on tax credits. Really, it’s *** shot in the arm for the economy in New Hampshire. You can go to WMUR.com where it’ll be posted all this week.