What is the CCTCP?
The Community Contribution Tax Credit Program (CCTCP) is a State of Florida funded incentive to encourage businesses to partner with agencies that provide affordable housing. Through this tax credit program, your company can sponsor a Seminole-Apopka home and recoup your donation via a refund on sales tax you’ve remitted to the Florida Department of Revenue.
What is required of my company?
• Cash donation for 50% of appraised value of home (less land cost), approx. $60,00-$80,000 depending on house size and value
• 200 volunteer hours of work on the Habitat home
• Each business can donate up to $200k, or about 2-3 Habitat homes
What are the basic steps of the program?
• Ongoing: Habitat builds a home with the help of volunteer labor from your company and other volunteer groups working on behalf of your company.
• May-June: Habitat has the home appraised and informs the business of the amount of donation. Donation check must be provided to Habitat and dated no later than June 30th. Habitat prepares the appropriate tax credit paperwork – a brief three-page application – for your review and signature.
• July 1st: Habitat submits tax credit paperwork to the State of Florida, Department of
Economic Opportunity. Within approximately 30 days you will receive a tax credit approval letter or voucher. You will use the voucher to apply for a refund check from the Florida Department of Revenue. Refund checks are received within 90 days of application. If refunds exceed 90 days you will receive refund plus interest. For C Corporations that do not pay sales tax they will use this letter when completing their annual taxes.
What benefits does my company receive from sponsorship of a Habitat home?
• Provide a homeownership opportunity for a hardworking low income family in our area.
• Team building experience for your employees, civic group or church members
• Positive media and public relations
• Keeps local sales tax receipts in our community to help build a better community for all of us
How does the Community Contribution Tax Credit Program help our community?
Since 2012, $1.5M in sales tax dollars has been returned to our community through the partnership between Seminole-Apopka Habitat and local businesses. Through the tax credit program 20 homes in just 5 years have been built with every donation dollar returned to the sponsor. Other Habitat affiliates in Florida are taking advantage of this tax credit program. Seminole-Apopka Habitat for Humanity is the vehicle for the Seminole-Apopka area to seize more of these funds to alleviate poverty housing and make homeownership possible for hard working families in our community area. We are happy to provide references from local businesses and past sponsors.
If interested contact Kelly Pisciotta; kpisciotta@habitat-sa.org; 407-696-5855 ext. 2101
www.HabitatSeminoleApopka.org
