The Farmington River Watershed Association (FRWA) has recently been approved by the Simsbury Board of Selectmen and the State Department of Revenue Services to receive funding from businesses in Simsbury under the State’s Connecticut Neighborhood Assistance Act tax credit program. All funding collected through this program (up to the program limit of $150,000) will be dedicated to acquiring the development rights on 424 acres at Ethel Walker School to protect an area which both overlies Simsbury’s primary drinking water aquifer and provides tremendous recreational benefits for the public. Ethel Walker School and the Trust for Public Land agreed in June to a price of $13.85 million, of which approximately $11.1 million will go to town referendum this fall. The remaining $2.75 million to be raised from private donations would be offset by donations to FRWA under this program.
If a business makes a cash donation between $250 and $75,000 to FRWA in its 2006 business year and fills out a simple Form NAA-02 (PDF file, prefilled out for this appeal) between September 15th and October 2nd, the donor business is eligible for a tax credit equaling 60% of the donation. Any tax credit that is not taken this year may be carried back to the two immediately preceding income years (beginning with the earlier of such years).
If you have any questions about the benefits of participating in this program please feel free to contact Eric Hammerling at FRWA at 658-4442, ex. 205 .