Plus, Congregational Fitness Challenge Jan. 22
By American staff
Governor Matt Blunt recently announced approval of up to $75,000 in Neighborhood Assistance Program tax credits for North Side Team Ministry. The money will be used by the organization to leverage donations for renovations to affordable housing units and a service building where training, job placement and recreational services for the community will take place.
“Programs like the Neighborhood Assistance Program provide the assistance a community needs to help itself address particular issues and improve the quality of life,” Blunt said.
The tax credits administered by the Department of Economic Development are expected to leverage $150,000 in donations that will be used by the not-for-profit agency to renovate 10 vacant apartments and a main service building in the North Grand neighborhood.
Renovation of the apartments will increase safe and affordable housing options for approximately 30 low-income individuals. Computer training, tutoring, mentoring and job training and placement will be offered for youth and adults at the newly renovated main building. It will also serve as a meeting place for the community.
The Missouri Department of Economic Development administers the program that helps not-for-profit organizations raise private-sector funds by providing partial state tax credits to businesses that make contributions to approved community improvement projects.
Businesses can donate cash, supplies or equipment as well as technical assistance, professional services, real estate or stocks and bonds to the effort. Credits can equal up to 50 percent of the total amount contributed or up to 70 percent for projects located in most rural areas. Businesses donating to this project will receive tax credits at a 50 percent credit level, which can be used to offset their Missouri tax liability.
Not-for-profit organizations participating in the NAP program provide services to help individuals in their community with education, job training and physical revitalization as well as services such as counseling, day care, recreation, food and transportation.
