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Hartford nonprofit projects seek Neighborhood Assistance Act tax-credit allocations
Summary
At a May 19 public hearing, city staff outlined the Neighborhood Assistance Act process and local nonprofits — including Phillips-related projects, Ida B. Wells senior housing and Hartford Youth Scholars — presented applications seeking NAA tax-credit allocations and described planned energy and safety upgrades.
Councilman Alexander Thomas opened a public hearing of the Hartford Court of Common Council on May 19 to consider local submissions for the Connecticut Neighborhood Assistance Act (NAA) tax-credit program and hear presentations from applicant organizations.
Tamara Ciaz, who identified herself as a liaison in the City of Hartford’s Office of Management and Budget, told the council the NAA is “a Connecticut Department of Revenue Services tax credit program intended to insensitize contributions by business entities to nonprofit organizations.” She described the local and state timeline and application rules, including that the city submits approved local proposals to the Connecticut Department of Revenue Services on or before July 1 and that the DRS issues a list of approved NAA programs and funding limits by statute each Sept. 15. Ciaz said this fiscal year the statewide cap on total tax credits is $5,000,000 and that “a contributing…
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