On Tuesday, June 18, 2019, the New Hampshire Community Development Finance Authority (CDFA) awarded the City of Lebanon a $75,000 tax credit grant to aid in the development and launch of Lebanon Community Power, a municipal aggregation program being created by the Lebanon Energy Advisory Committee (LEAC) under the direction of the City Council.
The Lebanon Community Power program aims to be an innovative, forward-looking program that will provide a substantial positive opportunity for meaningful and effective local and community engagement on critical energy issues and the development of innovative programs, products, and services.
Assistant Mayor and LEAC Chair Clifton Below received the grant on behalf of the City, stating:
This is an exciting opportunity for Lebanon to lead the way in developing a municipal aggregation program. Lebanon Community Power can help the City accelerate progress towards its energy goals of transitioning to sustainable and renewable energy in a cost-effective manner.
Municipal aggregation has been successful in many other communities but not yet New Hampshire, though pending legislation may change that. With the City’s support, the NH House and Senate have passed Senate Bill 286 that updates and improves NH’s municipal aggregation statute.
The City will be partnering with businesses that have NH business profits tax liability to purchase the tax credits that will be awarded through the grant.
To learn more about CDFA, its impact on New Hampshire communities and available funding resources, visit nhcdfa.org.