Senate reviews expansion of 'Housing Champions' program to add loans for businesses in participating towns

Sen. Rebecca Perkins Quoca, sponsor of Senate Bill 279, told the Commerce Committee the Housing Champions program has been oversubscribed and that supplemental funding and new incentives would help towns that adopt pro‑housing measures. "I'm here today to ask for two things with this bill: replenishment of funds so that housing champions can continue to be the successful program it has become, and an expansion of the benefits available to the cities and towns that qualify as housing champions," she said.

Perkins Quoca described the program as a partnership with municipalities: towns that qualify receive grant funds to offset infrastructure costs related to higher density while the state would expand incentives to include low‑interest BFA loans to businesses locating in designated communities.

Supporters included the New Hampshire Association of Realtors, Housing Action New Hampshire, the Business and Industry Association and ABLE New Hampshire. James Key Wallace, executive director of the Business Finance Authority, described the concept as attractive to municipalities but warned the $1 million initial allocation for business loans would amount to only one or a few loans; he said a viable program at scale would likely require tens of millions in loan capital, though he acknowledged a pilot could be useful.

Nick Taylor of Housing Action said the program had early success: 18 communities were designated as housing champions and local officials reported a range of projects. Realtor Chris Norwood and others said the grants help municipalities pay for water, sewer and other infrastructure needed for growth.

The committee closed the public hearing and took the bill under advisement for further action.