5/26/2016 - 2016 Neighborhood Assistance Act Program
Community & Economic Development Director Mark Barnhart announced today that the Town of Fairfield had received eight applications from local non-profits for consideration under the 2016 Neighborhood Assistance Act (NAA) program.
The NAA program is designed to provide funding to State-approved community programs conducted by municipal agencies or community non-profit organizations. The community programs must first be endorsed by the host municipality prior to submission to the State Department of Revenue Services. If subsequently approved, the NAA allows businesses to claim a State tax credit for cash contributions made to these community programs.
The program is structured so that businesses that make charitable contributions to a qualified program are eligible to receive a credit, valued at 60% to 100% of the amount contributed, on their State Corporate Income Tax. The minimum contribution on which a tax credit may be granted is $250, and the maximum contribution that any non-profit or municipal entity can receive under this program is $150,000. There are no local funds involved.
The types of community programs that qualify for the NAA tax credit program include, but are not limited to: energy conservation; employment and training; child care services; neighborhood assistance; substance abuse; open space acquisition; crime prevention programs; and affordable housing development.
The Town received the following applications by the April 25th deadline:
• Wakeman Memorial Association – Energy Efficiency Initiative
• Operation Hope of Fairfield - Community Hunger & Homelessness Services
• Junior Achievement of Western CT – Financial Literacy & Life Skills Development
• Pilot House – Pilot House Community Farm
• Fairfield Theatre Company – Community Arts Programming
• Fairfield Theatre Company – Exterior Lighting Improvements
• Center for Family Justice – Individual Empowerment & Family Strengthening
• CT Challenge – Center for Survivorship
The Town will conduct a required public hearing on these applications on Tuesday, May 31st at 6:00PM in the 2nd Floor Conference Room of Old Town Hall, located at 611 Old Post Road.
For more information about the applications received or the NAA program in general, please contact Mark Barnhart, Director of Community & Economic Development at (203) 256-3120.