We have a golden opportunity to meet this ambitious goal. This spring, the Department of Housing and Community Development rolled out the Community Investment Tax Credit (CITC) program, signed into law by Governor Patrick in 2012. This State initiative allots tax credits to certified community development corporations like SCC, to improve economic opportunities for low- and moderate-income households and other residents in our communities.
We are motivated to launch this grand campaign due to the tremendous transformation Somerville will see in the next decade. Just in the next 5 years, Somerville will see 6 new Green Line stations, 6.3 million square feet of development in Assembly and Union Squares, a new community path, and thousands of new jobs and homes. SCC's role in Somerville's expansive transformation is to make sure these new amenities benefit people of all incomes, and that Somerville continues to be a diverse and affordable community.
These tax credits are issued to public and private entities and individuals who make a financial donation to the organization in order to leverage deeper impact through community development.
Any individual or entity that donates at least $1000 will be eligible for a tax credit of 50% of their donation. This kind of opportunity does not come often, and we are thrilled by the prospect of leveraging new dollars to significantly expand our impact in Somerville.
For more information about the campaign, how to get involved, or how to make a donation to be eligible for the tax credit, click here or contact: Meridith Levy, Deputy Director, at email@example.com, or 617.776.5931x242.