Scout | dced/54: Neighborhood Assistance Program (NAP) — Tax Credits for Investing in Distressed Areas

grant dced/54

Neighborhood Assistance Program (NAP) — Tax Credits for Investing in Distressed Areas

Summary

A tax credit program that encourages businesses to invest in projects that improve distressed neighborhoods. Businesses that make eligible investments in targeted areas can receive tax credits; check the program guidelines for eligibility, qualifying activities, and application procedures.

Tax credit program to encourage businesses to invest in projects which improve distressed areas.

Funding Source

Agency: Pennsylvania Community & Economic Development

Eligibility

Eligible applicants are neighborhood organizations that hold a ruling from the Internal Revenue Service as nonprofit, 501(c)(3) organizations.<br /><br />Projects in this category must demonstrate a significant impact on specific needs in a distressed area(s) and are based on collaborations, partnerships, and goals. A project must support specific priorities of community economic development: disaster or economic recovery, integrating weatherization and housing rehabilitation, mortgage foreclosure prevention, blight elimination, diversity issues, rural issues, affordable housing, supportive services for vulnerable and atrisk populations, veterans’ initiatives, or integrated health and housing initiatives. A tax credit of up 75% can be awarded to contributing businesses with a one-year commitment.

Eligible applicants are neighborhood organizations that hold a ruling from the Internal Revenue Service as nonprofit, 501(c)(3) organizations.

Projects in this category must demonstrate a significant impact on specific needs in a distressed area(s) and are based on collaborations, par…

Dates

Application Opens: May 1, 2024

Application Deadline: June 30, 2035

Supporting links

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