Belmont’s historic Gale School, which was successfully relocated in July of last year, could begin its transformation into a new community center as early as next year if fundraising goals are met.
After relocating the building, Lakes Region Community Developers, which had partnered with Save Our Gale School group, assumed responsibility for preserving and repurposing the school. Several possible uses have been considered, involving services to benefit low and moderate-income working families in the Lakes Region by offering programs that are otherwise absent or insufficient in the region.
The revitalization project is set to cost about $2.4 million, according to Carmen Lorentz, executive director of Lakes Region Community Developers.
“Fundraising is going very well. We have a bunch of different grants and some state of New Hampshire business development tax credits we’ve been selling,” said Lorentz. “The biggest piece will be the federal historic tax credit.”
Many organizations have purchased tax credits to support the project, with Boothby Therapy Services purchasing $100,000 in New Hampshire business tax credits to support the project. Belknap Landscape Company has also purchased $20,000 worth of credits.
These tax credits are administered by New Hampshire Community Development Finance Authority. Any business that purchases credits may apply 75% of their total contribution to pay its taxes, which can be spread over five years.
In addition, the federal historic tax credit is provided for the rehabilitation and restoration of historic, income-producing buildings. Developers that receive this credit are held to strict standards of revitalization, such as maintaining original construction and materials, original color, as well as staying true to the original architectural character.
With these grants, Lakes Region Community Developers is able to subsidize the capital costs up front, allowing for organizations to rent pace below market-rate.
“It’s a bit of a balancing act,” said Lorentz. “Hopefully, the property doesn’t have to carry any debt, so we can work with them to charge them a rent that fits their model.”
Lorentz predicts that once fundraising goals are met, development should take about a year to complete.
The first floor of the building is slated to be occupied by the Boys and Girls Club, which will provide affordable childcare to approximately 35 pupils. The second floor will be occupied by Lakes Region Community Services, who provides social services to those with lifelong developmental disabilities. The Gale School will act as a satellite location for Lakes Region Community Developers to hold programming and counseling.
The Gale School is the group’s first community facility redevelopment. Traditionally, Lakes Region Community Developers focuses on affordable rental properties for low and moderate-income families. Five years ago, they partnered with the the Gale School group to preserve and repurpose the building.
“We see our expertise in development, we could apply that,” said Lorentz. “We shook hands with the Gale School group almost five years ago. ‘If you guys can move that building, we’ll redevelop it.’ It was nothing short of miraculous to move that building.”
Built in 1894, the Gale School served the Belmont community until the mid-1980s and it has remained mostly vacant since. Selected as one of New Hampshire’s Seven to Save in 2017, fundraising efforts by the Save Our Gale School group successfully raised over $330,000 in order to preserve and relocate the building.