Donations To Help Preserve Land
September 19 2006
SIMSBURY – — The Farmington River Watershed Association is collecting donations from businesses to use toward the acquisition of property owned by the Ethel Walker School.
The fundraising effort is continuing until the end of the year under the Connecticut Neighborhood Assistance Act tax credit program, but the paperwork must be filed with the state by Oct. 2.
The total price of the acreage is $13.85 million with the town payment proposal structured over time. The issue goes before Simsbury voters in November.
A Connecticut business that makes a cash donation between $250 and $75,000 in its 2006 business year and files a Form NAA-02 (available on the state Department of Revenue Services website, www.ct.gov/DRS/ – http://www.ct.gov/drs/lib/drs/fillable_forms/2005forms/naa-02fill.pdf) is eligible for a corporate tax credit equaling 60 percent of the donation. The form must be received by Oct. 2.
The association hopes to raise up to $150,000. Anything raised over $150,000 would diminish the percentage of tax credit to each business, according to Eric Hammerling, executive director of the association.
For more information, Hammerling can be reached at 860-658-4442, Ext. 205.
The Trust for Public Land, a national nonprofit conservation organization, is committed to raising about $2.75 million toward the acquisition. The money raised by the watershed association would offset the commitment of funds from the Trust for Public Land, Hammerling said.
Copyright 2006, Hartford Courant