Program Guidelines

All Tax Credit Program 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. A project is considered based on its own merits and as it compares to the other applicants in the same grant round.

CDFA may invest in or lend to any projects sponsored by an eligible applicant as defined above and that meet the following conditions:

  • The project must be interpreted by the CDFA Investment Review Committee (IRC) to be within the scope of CDFA’s defining legislation (RSA 162-L) and as outlined in the Program Objectives.
  • The project must be of a public purpose and for a public benefit. Such benefits shall be quantifiable and must be presented to CDFA at time of application in a form described in the application.
  • Private industry shall not have provided sufficient capital required for the project. CDFA shall determine that its participation is necessary to the successful completion of the proposed project because adequate funding is determined to be unavailable in traditional capital markets or because credit has been offered on terms that would preclude the success of the project.
  • Awarded organizations shall guarantee long-term community and targeted population benefit through legal mechanisms such as deed restrictions, equity limitation formulas, land leases, or other approved forms.
  • The project must provide evidence that it has a reasonable chance to succeed by providing evidence of funding commitments, public support, organizational capacity, and sufficient capital for sustained operations.
  • The project must conform to all applicable environmental, zoning, building, planning, or sanitation laws and have a plan for addressing energy efficiency and building sustainability in accordance with APPENDIX E – CDFA ENERGY POLICY 2020. See Appendix E for additional information.

Funding Priorities

Applications for the following activities are encouraged:

  • Projects that focus on underserved people or communities;
  • Place-based strategies that reinvest in underserved places, fundamentally impacting communities and strengthening local economies; and
  • Advancing projects that use funding from multiple resources including but not limited to banks, private donations, capital campaigns and other CDFA grants and/or loan funds.

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

  • Operating expenses, deficit-reduction or expenses already incurred.
  • Requests that are typically the responsibility of federal, state, or municipal funding sources.
  • Municipal projects that do not demonstrate a significant level of private enterprise. Private enterprise is defined by a project that shows planned economic benefit.
  • Replacement of typical revenue sources (contributions, grants or earned income, etc.).
  • Organizations possessing the financial capacity to complete a proposed project without a tax credit investment.
  • Capital campaign activities not explicitly tied to a specific project or program.
  • Applicants with an active CDFA tax credit project.
  • Requests for a large sum of funds compared to other projects in the same round and/or available tax credit resources.
  • Projects whose primary beneficiaries are not New Hampshire residents/individuals and/or whose primary activities are not located in or benefit New Hampshire communities.

CDFA will apply the following principles when considering tax credit applications from eligible non-profit faith-based organizations:

  • Project activities must be related to community development, improvement, revitalization or other activities consistent with the purposes of RSA 162-L.
  • Recipients may not discriminate against a project beneficiary on the basis of religion or religious belief.
  • Funds may not be used for explicitly religious activities (including activities that involve overt religious content such as worship, religious instruction, or proselytization). Such activities may be offered outside of activities that are supported with CDFA resources.
  • Participation in any explicitly religious activities must be voluntary.
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