The City of Franklin is proud to announce its Facade Improvement Program is fully funded, and work to complete critical facade improvements to historic storefronts in the downtown is under way. These important upgrades are possible thanks to Eversource’s purchase of $275,000 of a $400,000 tax credit award from the New Hampshire Community Development Finance Authority (CDFA).
“Economic Development and redevelopment takes the collaborative efforts of many people and organizations to be successful,” said Ken Merrifield, Mayor of the City of Franklin. “We are grateful for the support and work of all our partners. This investment will bring about visible changes to storefronts in our downtown. We invite everyone to visit our small city often to witness and be part of the revitalization efforts as they continue to unfold.”
Leading the City’s Facade Improvement Project are the Franklin Business and Industrial Development Corporation (FBDIC) and nonprofit PermaCityLife (PCL), which has purchased seven vacant and underutilized buildings for the purpose of completing significant renovations and attracting new tenants. Several businesses have already committed to occupying the revitalized, mixed use space, including a sporting goods store, coffee house, software firm, restaurant and brew pub, an art gallery, and Colby-Sawyer College.
“This project is a wonderful example of how public and private partnerships can enrich our communities,” said Bill Quinlan, President of Eversource in New Hampshire. “This project to revitalize Franklin’s historic downtown and power job creation is exactly the type of initiative Eversource is committed to supporting.”
The improvements are being funded by proceeds from the sale of the $400,000 tax credit award from the CDFA. The City of Franklin, FBDIC and PCL thank all the private partners who purchased these tax credits, making this significant investment in Franklin possible.
“This project to enhance the downtown for residents of Franklin and visitors is just the beginning of a long term plan for the revitalization of historic Franklin Falls,” said Jim Aberg, Executive Director for the Franklin Business & Industrial Development Corporation. “We are thrilled to see this project move forward, and we look forward to welcoming businesses to a vibrant new commercial center.”
About Franklin Business & Development Corporation:
FBIDC is a nonprofit corporation [S01(c)3] with a volunteer nine person Board of Directors. The mission of FBIDC is to promote the expansion of the economic base of the City of Franklin through strategies to make the community an increasingly attractive location to conduct business, to work, to play, and to raise a family. FBIDC is considered the economic development agency for the City.
About PermaCityLife:
PermaCityLife, is a nonprofit organization formally created in 2014 to serve as the catalytic organization focused on bringing the Franklin Falls Revitalization Plan to life. The mission is to lead the charge for positive and sustainable economic growth in downtown Franklin while protecting past investments. PermaCityLife is working in partnership with local government, private investors, and the philanthropic sector to support and develop specific real estate projects in downtown Franklin.
About Eversource:
Eversource (NYSE: ES) is New Hampshire’s largest electric utility, serving more than 500,000 homes and businesses in 211 cities and towns, and is proud to be recognized as the top contributor to United Way in New Hampshire. Recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization, Ceres, Eversource harnesses the commitment of its approximately 8,000 employees across three states to build a single, united company around the mission of safely delivering reliable energy and superior customer service. For more information, please visit our web site at: eversource.com and follow us on Twitter at: @eversourceNH and Facebook at: facebook.com/EversourceNH.