Eligible applicants include community development corporations, other nonprofit organizations and municipal governments involved in community development, and employee and other types of cooperatives.
Definitions for eligible applicants are as follows:
- Community development corporation means a nonprofit corporation, organized under the laws of the state to carry out certain public purposes and with bylaws providing that it meets the requirements listed in New Hampshire RSA 162-L:1.
- Other nonprofit organizations and municipal governments involved in community development means a nonprofit organization organized under the laws of the state or a municipal government with a purpose to carry out activities related to community development, improvement, revitalization, or other consistent activities.
- Employee cooperative means a corporation in which the power to elect at least 2/3 of the corporation’s directors is held by the employees and in which such elections are held on a one person-one vote basis.
Other type of cooperative means any corporation in which the power to elect the governing body is held by the members of the corporation and in which elections are held on a one person-one vote basis. This may include cooperatives such as housing cooperatives and consumer cooperatives.