The Laconia Daiy Sun, July 14, 2011

Page 1

Thursday, July 14, 2011

VOl. 12 NO. 32

laCONIa, N.h.

527-9299

FrEE

thursday

Resident jump-starts Potter Hill Road speed discussion By Gail OBer

THE LACONIA DAILY SUN

GILFORD — Selectmen voted to accept the petition request of 41 Potter Hill Road residents for a reduction in the speed limits from 30 to 25 mph over the road and to schedule it for a public hearing on July 22. Lead by Gary Kiedaisch, many of the petitioners attended last night’s meeting believing they were see GILFOrd page 10

The wings of man A spectacular birds eye view from the open cockpit of Phil DiVirgilio’s WACO WMF5C Biplane as it soars above Lake Winnipesaukee on Wednesday morning. The M/S Mount Washington cruise ship can bee seen at center. (Karen Bobotas/for the Laconia Daily Sun)

Selectmen want to hear views of residents on mandatory recycling proposal GILMANTON — The Board of Selectmen this week scheduled a public hearing on the recommendation of the Recycling Committee to introduce mandatory recycling. The meeting will be held on Monday, August 16 at the Academy building, beginning at 6 p.m. Justin Leavitt, manager of the recycling facility, said that the committee wants to send a clear see GILMaNtON page 13

Group gets okay to sell $625k in state tax credits to help fund purchase of Colonial Theater By Michael Kitch THE LACONIA DAILY SUN

LACONIA — The nonprofit corporation calling itself Cultural Arts Center of the Lakes Region, which is steering the effort to acquire and reopen the Colonial Theater, has been awarded $625,000 in tax credits by the New Hampshire Community Development Finance Authority (CDFA). Carmen Lorentz, executive director of the Belknap County Economic Development Council who prepared the application, explained that the tax credits will be offered to firms in return for their contributions toward the cost of acquiring the theater. For example, a firm contributing $100,000 to the cause would receive a $75,000 credit against its Business

Italian dishes, pizzas, calzones and a whole lot more.....

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Profits Tax, Business Enterprise Tax or Insurance Premium Tax liabilities to the state. Moreover, the firm can claim the contribution as a deduction against its federal corporate income taxes. When application was made to CDFA, then City Manager Eileen Cabanel said that she had approached several local banks, all of which indicated their willingness to purchase tax credits, without however committing to contributions of specific amounts. Lorentz said that the group also intends to apply for funding from the Land and Community Heritage Program (LCHIP). However, the Legislature chose not to fund LCHIP in the 2012-2013 state budget. see COLONIaL page 14

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