New Hampshire Code of Administrative Rules Cdfa - Community Development Finance Authorit
Overview
The Community Development Finance Authority (CDFA) is a state agency established to promote economic growth and community development in New Hampshire, especially in areas that need revitalization or support. The CDFA provides financial assistance, grants, loans, and technical support to local communities, nonprofit organizations, and businesses to foster sustainable development and improve quality of life.
The Code of Administrative Rules for the CDFA lays out how the Authority operates, manages its programs, and distributes funds. These rules ensure transparency, fairness, and efficiency in carrying out its mission.
Key Areas Covered in the Rules
1. Authority and Purpose
The CDFA operates under RSA Chapter 162-L.
Its purpose is to support community and economic development through financial assistance.
The rules guide how the CDFA implements programs, awards funds, and monitors recipients.
2. Board Composition and Governance
The CDFA is governed by a Board of Directors.
Board members are appointed by the Governor and include public officials and private sector representatives with expertise in finance, community development, and business.
The Board sets policies, approves projects, and oversees the CDFA’s operations.
3. Programs and Funding
The CDFA administers several types of financial assistance, including:
Grants: Non-repayable funds for community development projects.
Loans: Low-interest or forgivable loans to businesses or nonprofits.
Tax Credit Programs: Incentives to encourage private investment in community projects.
The rules specify:
Eligibility criteria for applicants (municipalities, nonprofits, businesses).
Types of projects eligible for funding (housing, commercial revitalization, infrastructure).
Application procedures and deadlines.
Limits on the amount of funding per project.
4. Application Process
Applicants seeking financial assistance from the CDFA must:
Submit detailed project proposals.
Provide documentation such as budgets, project plans, financial statements, and community impact statements.
Comply with state and federal regulations related to environmental impact, non-discrimination, and public procurement.
The rules establish a standardized process for reviewing applications, including:
Initial screening for eligibility.
Detailed evaluation by CDFA staff.
Board review and approval.
5. Funding Awards and Contracts
Approved projects receive funding awards under contracts specifying terms and conditions.
Contracts include requirements for reporting, monitoring, and use of funds.
The CDFA has the authority to withhold funds or require repayment if terms are violated.
6. Monitoring and Compliance
Recipients of CDFA funds must submit regular reports on project progress, finances, and outcomes.
The CDFA conducts audits and site visits to ensure compliance.
Non-compliance can lead to penalties, including suspension of funds or legal action.
7. Conflict of Interest and Ethics
Board members and staff must avoid conflicts of interest.
They must disclose any personal or financial interests in projects seeking CDFA funds.
The rules include procedures for handling conflicts to maintain integrity in decision-making.
8. Rulemaking Procedures
The CDFA can propose amendments or new administrative rules to improve operations or address changing community needs.
Rule changes follow a public process with notice and opportunity for comment.
The Board adopts final rules that are filed with the state regulatory bodies.
9. Appeals and Grievances
Applicants or recipients who are denied funding or have disputes may file appeals.
The rules outline the procedure for hearings and decisions on appeals.
Decisions of the CDFA Board are generally final but may be subject to judicial review.
Summary
The New Hampshire Code of Administrative Rules for the Community Development Finance Authority creates a structured framework to support community growth and economic revitalization across the state. By regulating funding programs, eligibility, application processes, and compliance, the rules ensure that public resources are used effectively and transparently to benefit New Hampshire’s communities.
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