The Bristol Development Authority is now accepting applications for the 2019 Neighborhood Assistance Act Tax Credit program.
The program is designed to provide funding for municipal and tax exempt organizations through business tax credit incentives for businesses that make cash contributions to approved entities.”
All proposals must be submitted by 5 p.m., on Friday, April 26. Only original documents will be accepted. Applicants are asked to include the front page of the IRS 990, and to attach a cover letter.
Proposals must be submitted to the BDA on a NAA-01 form, which can be found through the City of Bristol website, www.bristolct.gov, or, through the State of Connecticut Department of Revenue Services (DRS) website, www.ct.gov/DRS.
To be approved for the Bristol program, an organization must show significant presence and or services offered to the Bristol community.
Qualified programs include energy conservation, employment and training, child care services, neighborhood assistance, substance abuse treatment programs, open space acquisition, crime prevention activities, and construction or rehabilitation of dwelling units for families of low- or moderate-income in Connecticut.
On Wednesday, May 8, at 6 p.m., a public hearing will be held in City Council Chambers, 111 North Main St., for all submitted applications. The BDA will approve proposals during the Monday, May 20, meeting. Approved proposals will be submitted to City Council for approval during the Tuesday, June 11 meeting. From there, applications will be sent to the state Department of Revenue Services by its Monday, July 1 deadline.
The city will be notified as to which proposals are approved. Businesses must be approved in September or October, before they can make an actual contribution, but fundraising activities can begin any time.
Dawn Leger, grants administrator with the BDA, is the Bristol liaison for the State of Connecticut Department of Revenue Services NAA Tax Credit Program.
If you have any questions, contact Leger at (860) 584-6185.