Merrimack County Savings Bank (The Merrimack) backs the completion of Redberry Farm, a Farmsteads of New England (Farmsteads) supportive housing project in Epping. Funded in part through the New Hampshire Community Development Finance Authority (CDFA), The Merrimack pledged $10,000 towards the construction of 32 housing units for individuals with developmental disabilities.
“With this contribution we’re helping provide a stable, supportive home for those who need it the most,” said Linda Lorden, President of The Merrimack. “Farmsteads creates a community for its residents that fosters independence, inclusivity and personal growth.”
Once complete, Redberry Farm will consist of eight buildings in a cul-de-sac community, allowing each residential farmer to have their own one‑bedroom apartment. While the focus is on residential and day programming, Redberry Farm incorporates outdoor and community-based activities to promote relaxation, interaction and participation.
“We’re grateful for The Merrimack and all of our community partners,” said Billie Tooley, Director of Development at Farmsteads. “The support we receive will ensure we can meet the growing demand for supportive housing for those who have great need.”
Opened in 2003, Farmsteads of New England. Inc. provides supportive day and residential services in a farm environment to adults who have developmental disabilities. It is dedicated to empowering individuals with autism and other developmental disabilities to live meaningful lives by providing residential and day services in inclusive farm communities to foster growth, interdependence and self-confidence. To learn more about the nonprofit, visit farmsteads-ne.org.
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.