Bank of New Hampshire Transfers Ownership of “The Tavern” to Laconia Housing Authority
Laconia, New Hampshire – March 17, 2015 – On January 6, 2007 Bank of New Hampshire and Laconia Housing Authority entered into a partnership and became owners of the Tavern Inn, located in downtown Laconia, to provide 50 units of affordable housing to families. This partnership provided a benefit to the City of Laconia to expand affordable housing and to Bank of New Hampshire and Laconia Housing Authority in the form of tax benefits. Since the inception of this partnership Laconia Housing Authority has effectively served as the managing general partner as well as the property manager.
Laconia Housing Authority provides housing opportunities for over 300 families at six different properties in the Lakes Region with 400 more households benefitting from the issuance of Housing Choice Vouchers. At select properties, Laconia Housing Authority provides direct support services through the vouchers for meals, housekeeping, laundry, transportation and personal care to allow tenants to remain in their homes even if a little assistance is needed.
Laconia Housing Authority and its affiliated 501(c)3 non-profit, the New Hampshire Regional Community Development Corporation, remain committed to their mission to provide affordable housing to Laconia area residents. The Laconia Housing Authority has embarked on a major capital improvements project at the Tavern Inn to reduce energy consumption and to renovate various building components which are anticipated to be completed this year.
“Transferring the bank’s portion of ownership of the Tavern Inn to Laconia Housing Authority will allow them the flexibility as 100% owners of the property to do what is in the best interest of the City of Laconia and the families that they serve,” stated Thomas Drouin, SVP – Chief Retail Lending & Operations Officer for Bank of New Hampshire. “The programs that Laconia Housing Authority provides are vital to our community and we are proud to support the mission and vision of their future.”
“The development of affordable workforce housing opportunities is always a challenge,” stated Richard Weaver, Executive Director for Laconia Housing Authority. “It takes strong public/private partnerships such as the one demonstrated at the Tavern Inn to be successful.”
For more information on Laconia Housing Authority, visit www.laconiahousing.org.
Bank of New Hampshire, founded in 1831, provides deposit, lending and wealth management products and services to families and businesses throughout New Hampshire. With 21 banking offices throughout New Hampshire and assets exceeding $1 billion, Bank of New Hampshire is the oldest and largest independent bank in the state. Bank of New Hampshire is a mutual organization, focused on the success of the bank’s customers, communities and employees, rather than stockholders. For more information, call 1-800-832-0912 or visit www.BankNH.com.
Photo Caption (L-R): Richard Weaver, Executive Director for Laconia Housing Authority shakes hands with Thomas Drouin, SVP – Chief Retail Lending & Operations Officer for Bank of New Hampshire after the recent transfer of property ownership.
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1-800-832-0912 · www.BankNH.com
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