DHCD Releases Notice of Funding Availability for Community Investment Tax Credit Program - March 18, 2013

Program Description

The Community Investment Tax Credit (CITC) was created by Chapter 238 of the Acts of 2012.  The CITC is designed to enable local residents and stakeholders to work with and through community development corporations (CDCs) to partner with nonprofit, public, and private entities to improve economic opportunities for low and moderate income households and other residents in urban, rural, and suburban communities across the Commonwealth.  CDCs accomplish this through adoption of community investment plans to undertake community development programs, policies, and activities.

The Department of Housing and Community Development (DHCD) is the administering agency for CITC and is responsible for managing the process by which the credits are allocated to eligible CDCs.  The CITC will be available in calendar years 2014 through 2019; the Department will promulgate regulations in 2013 to establish rules, standards, and procedures for qualifying for and receiving allocations of the CITC.

The NOFA can be downloaded here.

Click here for additional information on DHCD's website.