Manchester Development Corporation names board chairman
MANCHESTER – At its annual meeting in March, Manchester Development Corporation (MDC) named Don St. Germain chairman of the board of directors. St. Germain, executive vice president and chief lending officer at St. Mary’s Bank, joined the MDC board in 2015.
MDC, a nonprofit that supports the economic development initiatives of the city of Manchester, exists to facilitate the highest and best use of the city’s assets for the benefit of all citizens.
“Over the past several years, MDC has taken a very proactive role in support of the business community in the city of Manchester,” said St. Germain. “I look forward to leading the board’s shared passion for our city and building upon MDC’s progress in revitalizing Manchester’s landscape.”
MDC provides advocacy, support and financing for a variety of projects in the city of Manchester. Projects include SNHU Arena; the purchase and subsequent sale of what is now known as Manchester Place; rehabilitation of the Chase Block, Dunlap Building and McQuades Building and expansion of Benefit Strategies on Elm Street. MDC financing played a critical role in the development of the Hilton Garden Inn and transition of the Clarion Hotel into La Quinta Inn and Suites. MDC provides numerous loans to local businesses through its revolving loan fund.