This tax credit is administered by the State of CT’s Department of Economic and Community Development. The credit is over a ten-year-period for eligible projects and can be claimed by a taxpayer who has made an investment of:
- a minimum of $5M in eligible urban/industrial projects
- a minimum of $2M in a preservation (and subsequent redevelopment into mixed use housing) of historic space project
- a minimum of $50M in a DECD-approved municipality
There are also several other ways to claim the tax credit. Click here to view more information on the tax credit.
If you wish to make an investment and start the application process for this tax credit, you must request an Application for Business Assistance from CT DECD.
NVRDC can work with municipalities and investors to streamline the application process.