Application Writing Workshop Scheduled for June 26, 2008

Concord, NH  - The Community Development Finance Authority (CDFA) is now accepting applications from nonprofits, cooperatives, and certain municipal entities for funding through the Community Development Investment Program, also known as the Tax Credit Program. This program grants state tax credits to help fund affordable housing and community economic development projects that benefit low- and moderate-income New Hampshire Citizens. CDFA will award up to $5.25 million in state tax credits. 

CDFA seeks innovative projects that show a high degree of community support, build partnerships, and leverage other funds. Through the Community Development Investment Program (CDIP), CDFA issues tax credits to nonprofits, cooperatives, and certain municipal entities for approved projects or programs. These organizations are then responsible for raising financial donations -- in the form of cash, cash pledges, or property -- from New Hampshire for-profit businesses. These businesses will then receive a 75% tax credit for their donation to be used against the business profits, business enterprise, and/or insurance premium taxes.

Anyone interested in learning more about the Tax Credit Program is invited to attend the CDIP Application Writing Workshop on Thursday, June 26, from 9:30 a.m. to 12:00 p.m. at the Local Government Center in Concord. All attendees must pre-register by going online at www.nhcdfa.org and clicking on “training opportunities” or call 603-226-2170 by June 18, 2008. 

The deadline for CDIP applications is 4:00 p.m. Friday, September 12, 2008 at the CDFA office, located at 14 Dixon Avenue, Suite 102, Concord, NH 03301. The CDFA Board of Directors expects to make award decisions in the fall of 2008. Assistance may be in the form of a grant, loan, credit enhancement, equity investment, or some combination of these. 

CDFA, created by legislation in 1983, is a nonprofit public instrumentality of the State of New Hampshire.  CDFA administers $14 million in annual funding resources, which includes a combination of state tax credits and federal Community Development Block Grant funding.   CDFA supports affordable housing and economic development activities that benefit low- and moderate-income citizens. For more information about CDFA, the workshop, and/or a copy of the CDIP application please visit www.nhcdfa.org or call 603-226-2170.