34981 - Capacity Building Program for SFY 2026 Tax Credits
Funding Opportunity Details

Investment Tax Credits

Final Application Deadline: Mar 7, 2025 4:00 PM

Description

• Community Economic Development Capacity Building Program for SFY 2025/26 Tax Credits

   

  Program Overview

  The Community Economic Development Capacity Building Program is a subset of CDFA’s Tax Credit Program that focuses on strengthening organizations in New Hampshire committed to community economic development.

  The program’s principal objective is to support communities, cooperatives, and nonprofits in building their capacity to advance community economic development and infrastructure projects that will support priority populations.

  The priority areas of the Community Economic Development Capacity Building program are:

  • Supporting networks, coalitions, and collaboration among community economic development efforts to create meaningful impact and change for communities.
  • Organizations, projects or initiatives led by and/or directly benefiting priority populations.
  • Place-based strategies that support priority populations, revitalize community, and strengthen local economies.
  • Innovative models of governance, initiatives, or organizations where the innovation enhances the outcomes of community economic development.
  • Efforts to engage the community broadly and deeply for community priority setting; identification of community economic development assets; and place reinvestment and revitalization.

  Eligibility

  Eligible applicants include community development corporations, other nonprofit organizations and municipal governments involved in community development, and employee and other types of cooperatives. 

  Available Funding

  CDFA will award up to a total of $750,000 in tax credits to the Community Economic Development Capacity Building program over two years. Community Economic Development Capacity Building program applicants are eligible to request up to $75,000 a year for two years (max $150,000 over two years).

  Funding Priorities

  Applications for the following activities are prioritized:

  • Projects or collaborations that build the capacity of priority populations and organizations to implement community economic development solutions and traditional infrastructure projects.
  • Groups and organizations that have been historically under resourced and, therefore, have a greater financial need and a reduced ability to raise these funds from other sources.

  Examples of high priority Community Economic Development Capacity Building Program type projects:

  • An organization or set of partners that have a community asset (for example a building, community space, piece of land, a loan, etc..) in place and need to deepen community engagement or bring in additional relationships to figure out how to engage that asset in ways that will drive the greatest benefit with priority populations.
  • An organization or set of partners that have an asset or are looking to acquire an asset and need to identify the right legal, financial, and governance structure to manage the asset.
  • A group that is looking to establish a new leadership or governance structure for its organization or project to address a community economic development challenge.
  • A priority population organization developing new partnerships and/or collaborating with a well-established organization so that both have the capacity to engage in a traditional infrastructure project.

  While not expressly disallowed, applications for the following activities will not be given priority:

  • Operating expenses, deficit-reduction or expenses already incurred.
  • Pre-development expenses and project costs that are supported through other CDFA funding streams. Pre-development expenses might include architectural designs, energy audits, market studies, appraisals and other expenses that are typical of the pre-development project phase.
  • Activities that support an existing/launched/proceeding/underway organizational strategy.
  • Requests that are typically the responsibility of federal, state, or municipal funding sources.
  • Replacement of typical revenue sources (contributions, grants or earned income, etc.).
  • Capital campaign activities not explicitly tied to a specific project or program.
  • Projects whose primary beneficiaries are not New Hampshire residents/individuals and/or whose primary activities are not located in or benefit New Hampshire communities.

  How to Apply

  All applications must be completed and submitted on CDFA’S Grants Management System www.nhcdfagrants.org. The application requires applicants to detail their specific project, describe the extent to which it aligns with program objectives, and provide other pertinent information that will help CDFA determine the applicant organization’s capacity to complete a successful project.

  Grant Writing Support

  CDFA will provide qualifying applicants with financial resources to help prepare their applications. Please discuss your need during a pre-application meeting or review the program overview on CDFA’s Resource Hub to learn more.

  Key Dates

  Applicants should note the following dates and deadlines as they pertain to this year's Tax Credit Round.

  Application Workshops

  CDFA will host a series of online webinars for organizations interested in applying for the Tax Credit and/or Community Economic Development Capacity Building Programs in 2024 or learning more.

  The Tax Credit & Community Economic Development Capacity Building Program Overview Webinar will be held on January 16, 2024 at 10:00 AM. Topics to be covered include an overview of the Tax Credit Program, eligible applicants, program objectives and guidelines, funding priorities, and key dates. Register Here.

  Those interested in applying for funding are strongly encouraged to also attend the Tax Credit & Community Economic Development Capacity Building Application Writing Webinar on January 18, 2024 at 10:00 AM. Topics to be covered include a step-by-step overview of the application process. Register Here.

  Interested in updates on CDFA programs and workshops? Sign-up below to be added to our distribution list viahttps://nhcdfa.org/signup/.

   

  Online Application Available

  Applications will be available on CDFA’s Grants Management System (GMS) beginning January 18, 2024.

  Application Deadline

  Applications for the 2024 Tax Credit Round are due Friday, March 8, 2024 by 4:00 PM. Late submissions and incomplete applications will not be accepted.

  Award Announcement

  .CDFA will notify tax credit applicants the week of June 10, 2024 regarding funding decisions.

  Evaluation

  CDFA will review proposals for Community Economic Development Capacity Building funds based upon the goals, measurable objectives, activities, components of the proposal and organizational need. All applicants are subjected to a substantial programmatic and financial review. Among other requirements, projects must provide a public benefit and demonstrate that similar funding was not otherwise available.

  The first step in the review process is to review the eligibility of the applicant. Then reviewers will complete a desk review of the application, and a comprehensive underwriting of the applicant and the project in order to evaluate the proposed project. A project is considered both on its own merits and as it compares to the other applicants in the same grant round.

  Recommendations for funding will be based upon applicant’s goals, measurable objectives, activities, and needs. The internal review team at CDFA assesses applicants against the program objectives and priority areas, and provides its assessment to the Investment Review Committee, composed of select CDFA staff and non-recused Board members. Recommendations for funding will then be made by the Investment Review Committee to CDFA’s full Board of Directors. Following approval by the Board of Directors, CDFA staff will execute a contract with the successful applicants and manage the award through completion.

  Administration

  Network Engagement

  Recipients may be asked to meet with CDFA staff and other Grantees to discuss the project and help to create a library of capacity building best practices.

  Contract and Reporting Requirements

  Successful applicants will be required to execute a grant agreement with CDFA. Certain additional information may be required to satisfy CDFA that applicant is eligible under RSA 162-L. Recipients will be required to report on the outcomes of the investment.

  Conditions of Default

  It is at the sole discretion of CDFA to automatically eliminate an applicant from consideration if there are existing or prior conditions of default in any agreements between CDFA and the applicant.