(Concord, NH) The Board of the Directors of the Community Development Finance Authority has awarded up to $125,000 in tax credits to help the Tri-County Community Action Program keep operating. The state suspended TCCAP’s board and appointed a special trustee while the organization deals with serious financial issues.
“The tax credit award will allow companies that donate to Tri-County CAP to receive 75% of their donation returned as an above-the-line credit on their state business taxes,” said Kevin Flynn, CDFA Communications Director. “We hope the urgency of the situation and the attractiveness of the tax credit will motivate businesses to donate and keep these important services going.”
The CDFA Board made the special allocation this month. Proceeds from the tax credits will be earmarked toward expenses associated with TCCAP community programs and the salaries of staff running those programs. Among the services offered to low- to moderate-income residents and seniors in Carroll, Coos, and Grafton Counties include heating assistance, transit, Head Start, eldercare services, and programs that deal with addiction, homelessness, and hunger.
“It’s critical that the service to Tri-County clients continues uninterrupted. Some of these people are just getting by even with the help, so watching things fold is not an option,” said Flynn.
In addition to the tax credit award, CDFA has pledged to make a sizable cash donation to TCCAP. Several other charitable and community focused organizations have promised to provide help to the clients of Tri-County CAP, with a focus on the need for food, shelter and heat.
Businesses looking to contribute to the TCCAP Working Capital fund and claim a tax credit can pledge online at by clicking here.
Grantees of Community Development Block Grants must submit their semi-annual reports to CDFA through GMS this day.
Applications for the second round of CDBG awards are due this day.
Required reporting for tax credit awardees must be completed and submitted today.
The Committee will meet Thursday
The Board will meet to make Tax Credit Application funding desicions