Implementation

CDFA’s Tax Credit Program is a competitive community and economic development investment program that awards approximately $5 million in tax credits annually. The program aims to support organizations that are engaged in community economic development initiatives that show a high degree of community support, build partnerships and leverage other resources.
Grants made to eligible projects are in the form of tax credit equity and serve as a powerful fundraising tool. Businesses with New Hampshire tax liability support awarded projects by purchasing the credits resulting in the nonprofit receiving a donation and the company receiving a 75 percent New Hampshire state tax credit against that contribution. The credit can be applied against the Business Profits Tax, Business Enterprise Tax or Insurance Premium Tax. The donation may also be eligible for treatment as a state and federal charitable contribution.

The Tax Credit Program is a proven example of how to achieve local priorities by leveraging public-private partnerships.

CDFA administers the State of New Hampshire’s annual federal allocation of Community Development Block Grant funds for eligible municipalities. The primary objective of the program is the development of viable communities by improving economic opportunities and meeting community revitalization needs, particularly for persons of low and moderate income.

CDFA directly awards Community Development Block Grant resources to New Hampshire’s cities, towns, and counties, which often sub-grant the money to a nonprofit agency or other entity conducting the work. Funding for the Community Development Block Grant program is provided to New Hampshire through the U.S. Department of Housing and Urban Development.

Public Facilities Grants: Help finance water and sewer system improvements, transitional and homeless shelters, municipal infrastructure, handicapped access, and neighborhood or community centers that provide public services to low- and moderate-income people.

Housing Grants: Support affordable housing and housing rehabilitation efforts that benefit low- and moderate-income homeowners and tenants.

Economic Development Grants and Loans: Create jobs in your community that provide good wages, benefits, and training programs. Funds can also be used for acquisition of land and buildings, construction of commercial buildings, purchase of machinery and equipment, employee training, and public facilities improvements.

CDFA’s Clean Energy Fund provides technical and financial resources for municipalities, businesses and nonprofits to invest in energy efficiency improvements and renewable energy projects that reduce costs. With low-interest financing that can result in cash-flow positive projects, these investments are designed to help organizations better control long-term energy costs.

In addition to significant cost savings, efficiency projects can offer other significant benefits such as improved light quality, reduced light pollution, improved comfort and reduced maintenance costs.