Tri County Cap Providing Tax Credits

by Mower on January 18, 2013

in News

A NEW HAMPSHIRE PUBLIC NON PROFIT IS PROVIDING TAX CREDITS AND CASH TO SUPPORT THE OPERATIONS OF TRI COUNTY COMMUNITY ACTION PROGRAM – OR TRI COUNTY CAP.

COMMUNITY DEVELOPMENT FINANCE AUTHORITY SPOKESMAN KEVIN FLYNN SAYS HIS BOARD OF DIRECTORS IS GIVING UP TO $125,000 IN TAX CREDITS TO HELP KEEP TRI COUNTY CAP OPERATING AS IT DEALS WITH “SERIOUS FINANCIAL ISSUES.”

TRI COUNTY CAP’S BOARD WAS SUSPENDED IN LATER 2012 AND A SPECIAL TRUSTEE APPOINTED TO OVERSEE ITS OPERATIONS.

FLYNN SAYS THE TAX CREDIT AWARD WILL ALLOW COMPANIES THAT DONATE TO TRI COUNTY CAP TO GET 75 PERCENT OF THEIR DONATION RETURNED AS A CREDIT ON THEIR STATE BUSINESS TAXES.

PROCEEDS FROM THE TAX CREDITS WILL PAY FOR EXPENSES FOR TRI COUNTY CAP COMMUNITY PROGRAMS AND THEIR STAFFS – THAT PROVIDE LOW AND MODERATE INCOME RESIDENTS AND SENIORS IN CARROLL, COOS AND GRAFTON COUNTIES TRANSIT SERVICE LIKE THE BLUE LOON BUS, ELDER CARE SERVICES, HEATING ASSISTANCE, HEAD START – AND PROGRAMS THAT DEAL WITH ADDICTION, HOMELESSNESS AND HUNGER.

FLYNN SAYS THE FINANCE AUTHORITY – THAT ADMINISTERS $40 MILLION IN FUNDING RESOURCES – WILL ALSO MAKE A SIZEABLE CASH DONATION TO TRI COUNTY CAP – AND SEVERAL OTHER CHARITABLE AND COMMUNITY FOCUSED ORGANIZATIONS HAVE PROMISED TO HELP.

FLYNN SAYS HE CAN’T DISCLOSE THE NAMES OF ANY OF THE ORGANIZATIONS YET AS THEY ARE IN THE PLANNING STAGES AND GETTING APPROVAL FROM GOVERNING BOARDS. HE SAYS HE EXPECTS TO MAKE THEIR NAMES PUBLIC BY THE END OF JAN. 2013.

FOR MORE INFORMATION ABOUT CDFA AND ITS PROGRAMS, CALL (603) 226-2170. BUSINESSES INTERESTED IN CONTRIBUTING AND CLAIMING A TAX CREDIT CAN PLEDGE ONLINE AT www.nhcdfa.org.

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