Merrimack County Savings Bank (The Merrimack) supports the Currier Museum of Art with the purchase of $10,000 in tax credits towards the Chandler House Restoration Fund. Facilitated through the Community Development Finance Authority (CDFA), the funds will be used to restore the Chandler House in Manchester into a gallery, ceramic studio, art classrooms and office spaces.
“We’re grateful for The Merrimack’s support as we restore this architectural treasure from the late 19th century to its original glory,” said Alan Chong, Director of the Currier Museum of Art. “Saved by the community, we look forward making the historic property accessible for everyone to enjoy.”
“It’s an honor for us to contribute in the preservation of New Hampshire history,” said Linda Lorden, President of The Merrimack. “The Chandler House is a historical and architectural representation of 19th century culture.”
The Currier Museum is an internationally renowned art museum located in Manchester, New Hampshire. The museum features paintings, sculpture, decorative arts, and photographs, including works by Monet, Picasso, O’Keeffe, Hopper, and Wyeth. It presents exhibitions, tours, art classes, and special programs year-round. Two houses designed by Frank Lloyd Wright, are part of its permanent collection.
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. 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.