Keene Public Library Expansion

Keene, NH (2018)

Keene Public Library Expansion

Business Development, Machine Shops and Metal Fabrication, Manufacturing, Rural

The Keene Public Library's $13M expansion project connected the main library to a neighboring annex building.

Investment

NMTC Amount: $4,000,000
Total Project Cost: $8,200,000

IMPACT

1 FTE jobs
79 construction jobs
13,000 sq. ft. of real estate

CDEs

Mascoma Community Development

Investor

US Bank

Voices from the Community

Because we leverage NMTC funds with Community Development Block Grant Funds and a State Community Development Improvement Program the power of the NMTC funds positively affecting employment at all levels is enhanced tremendously

-Robert Elliott, CFO, Monadnock Economic Development Corp, Keene, New Hampshire

Project Description

MEDC is spearheading the Keene Public Library’s $13 million expansion project that connects the main library to a neighboring annex building. A former Masonic lodge, the annex building contains nearly 15,000 sq. ft. of finished space and includes Heberton Hall. The project creates new community spaces and bring the historical structure up to code. The scheduled completion date is late 2018. As part of the financing package, MEDC arranged for $4 million in New Markets Tax Credits, which are geared toward promoting economic development in low-income areas. People or private firms invest in projects and then get that investment back through federal tax credits.

MAP

Address: 3 Washington Street, Keene, NH 3431

Census Tract: 33007950600