HOME ABOUT NEWS Cityside Invests In Business Expansion

Cityside Invests In Business Expansion

by OutFITters Thrift Store on Thursday, October 28, 2010 at 9:02am

Families in Transition Kicks Off Its Fundraising Campaign

MANCHESTER, NH – When Families in Transition (FIT), Manchester, NH, announced that it would be expanding its upscale thrift store in downtown Concord, NH, Cityside Management Corporation, headquartered in Merrimack, NH, was the first to invest with a $40,000 donation.

Through a recent $277,125 state tax credit award by the Community Development Finance Authority (CDFA), FIT plans to grow its OutFITters Thrift Store Boutique onto Concord’s Main Street. All proceeds from the store are used to support ongoing programs and services provided by the agency to the homeless in both Concord and Manchester.

“Although we’re a nationwide company, we strongly believe in community involvement,” said Christopher Dolloff, President of Cityside Management Corporation. “Here in New Hampshire, Families in Transition has a reputation second-to-none in helping to end homelessness. We are thrilled to be in a position to support them.”

The state tax credits enable businesses to invest cash, securities, or real property to fund CDFA-approved projects, like the OutFITters Boutique Expansion, in exchange for a 75% state tax credit. It can be applied against the New Hampshire business profits, business enterprise, and insurance premium taxes. FIT is responsible for raising donations in the amount of the tax credit award from for-profit businesses that have a New Hampshire state tax liability. To learn more about the tax credits for this project, call Michele Talwani, at FIT, 603.641.9441.

According to Maureen Beauregard, President of FIT, “Support like Cityside’s enables us to move more families and children out of homelessness and into permanent housing. Our Boutique’s expansion will increase FITs revenue stream, which means that we’ll be able to help more people gain self sufficiency. Cityside’s investment helps to kick off this fundraising campaign. We are grateful for their generosity.”

Families in Transition is a nonprofit organization that provides safe, affordable housing and comprehensive social services to individuals and families who are homeless or at risk of becoming homeless, enabling them to gain self-sufficiency and respect. FIT also owns and operates two thrift stores in Manchester and Concord, NH which serve as the economic engine to help pay for services they provide. For more information about FIT, its programs and stores visit www.fitnh.org or call 603-641-9441.

Cityside is a national real estate services company specializing in the management and disposition of properties owned by the U.S. Government. Cityside performs services such as property management, cost budgeting and tracking, and quality monitoring and control on both the Federal and State levels. For more information about Cityside Management Corporation, visit www.citysidecorp.com or call 603-423-0313.

Cityside Management Corporation donates $40,000 towards the relocation and expansion of OutFITters Thrift Store Boutique in Concord, NH. One hundred percent of the revenues from the store are used to support ongoing programs and services provided by Families in Transition to homeless individuals and families in Concord and Manchester, NH. Pictured (l. to r.) Maureen Beauregard, President of Families in Transition (FIT); Christopher Dolloff, President of Cityside Management Corporation; and Theresa Dolloff, Marketing Director of Cityside Management Corp. and FIT board of director member. FIT needs to raise an additional $237,125 towards the project.