State Approves More Than $5.2 Million to Support Over 300 New Housing Units

CONCORD, NH - Today, Governor Kelly Ayotte and the Executive Council approved more than $5.2 million in state and federal funding to support affordable housing efforts across New Hampshire, including support for more than 300 new rental units and additional resources for the State's Affordable Housing Fund.

"To keep New Hampshire the best state in America for economic opportunity, we have to build more housing, and today, we're taking action to do just that," said Governor Ayotte. "These investments approved today will help expand housing opportunities for families, workers, and communities across our state. I thank the Council, the teams at BEA and GOFERR who brought these projects to the table, New Hampshire Housing, and everyone working to tackle our housing shortage and keep New Hampshire growing."

The Executive Council approved an amendment authorizing the Governor's Office for Emergency Relief and Recovery (GOFERR) to direct an additional $1,755,958 in federal funding to the New Hampshire Housing Finance Authority (NH Housing) for affordable housing purposes statewide, bringing the total agreement to more than $4 million. The funds come from de-obligated American Rescue Plan Act (ARPA) State Fiscal Recovery Funds and will be reclassified to support New Hampshire Housing's Affordable Housing Fund.

"This approval makes sure available federal resources are put to work right here in New Hampshire," said Tom Broderick, GOFERR Deputy Director. "By redirecting these funds to affordable housing, we are making responsible use of available dollars and supporting housing opportunities for Granite Staters."

The Council also approved $3.52 million in state funding through the Department of Business and Economic Affairs (BEA) InvestNH Program to support nonprofit-led housing developments in Wolfeboro, Rochester, Dover, Concord, Jaffrey, Whitefield, and Portsmouth. The InvestNH awards approved today will support 302 new rental units, including 295 affordable units. The grants will be distributed as zero interest forgivable loans as developers complete eligible work.

"An economy cannot grow if its workforce has nowhere to live," said Lucy Lange, New Hampshire Department of Business and Economic Affairs Commissioner. "By expanding affordable housing through InvestNH 2.0, we are addressing one of the most critical infrastructure challenges facing our employers today. These strategic investments will help New Hampshire companies recruit and retain the talent they need, ensuring our state remains a competitive, thriving place to do business."

"New Hampshire Housing is proud to continue working with the State to expand affordable housing opportunities across New Hampshire," said Robert Dapice, Executive Director and CEO of New Hampshire Housing. "Every one of these investments helps move real projects forward and creates more housing options for working families, seniors, and communities across the state."

Since taking office, Governor Ayotte has prioritized expanding housing opportunities across New Hampshire, signing new laws to speed up construction, streamlining the State permitting process, and working with public and private partners to move housing projects forward.

Key housing priorities supported by today's approvals include:

• Building new affordable housing units
  • Supporting more than 300 new rental units across New Hampshire, nearly all of which will be affordable.
• Supporting local and nonprofit housing partners
  • Helping experienced nonprofit housing organizations move projects forward in both larger communities and smaller towns.
• Putting available funds toward housing
  • Directing state InvestNH funds and available federal resources toward housing projects without raising taxes or creating a new program.
• Expanding housing opportunities statewide
  • Supporting projects across the Lakes Region, Seacoast, North Country, Capital Region, and Monadnock Region.

Looking ahead, the State will continue working with local communities, nonprofit partners, developers, and housing stakeholders to build more housing and expand housing opportunities for Granite Staters.