CAPITAL FOR CHANGE Receives $9,862.63 Grant from United Illuminating for Affordable Housing and Energy Efficiency
Support Made Available under Connecticut’s
Neighborhood Assistance Act Tax Credit Program
Wallingford, CT — Dec. 21, 2020 — Capital for Change has received a 9,862.63 grant from United Illuminating under Connecticut’s Neighborhood Assistance Act tax credit program.
The funding will be targeted to affordable housing and energy efficiency projects
United Illuminating (UI), Southern Connecticut Gas (SCG) and Connecticut Natural Gas (CNG) — all subsidiaries of AVANGRID, Inc. — distributed a total of $441,540 in grants to 59 organizations.
The grants, made possible by Connecticut’s Neighborhood Assistance Act (NAA) Tax Credit Program, are aimed at helping nonprofit community and neighborhood organizations across the state improve energy efficiency and reduce their energy costs.
Since 2010, UI, SCG and CNG has awarded $3.8 million in grants through the NAA Program, which offers a corporate tax credit to encourage businesses to provide financial support to qualified local nonprofit organizations.
“As we prepare to celebrate the holidays during these unprecedented times, we are mindful of the many people in our communities who are suffering as a consequence of the COVID-19 pandemic – and of the important roles nonprofit organizations play in supporting them,” said Frank Reynolds, President of UI, SCG and CNG. “This program allows us to help our nonprofit partners achieve ongoing energy savings, allowing our partners to focus their resources on the critical programs and services that they provide.”
The 2020 NAA grants support a wide variety of projects undertaken by community organizations across the UI, SCG and CNG service territories. A full listing of the projects supported can be found at NAA tax credit Program.
About Capital for Change: Capital for Change's mission is to provide flexible, creative and responsive financial products and services to benefit low- and moderate-income persons, and minority and otherwise underserved individuals, businesses and communities. Its programs and products broaden access to affordable housing, energy efficiency and job opportunities.
Additional information about Capital for Change is available online at CapitalForChange.org and the organization's Facebook page, “Capital for Change, Inc.”
Capital for Change Inc. was created in 2016 through the mergers of the Community Capital Fund, Connecticut Housing Investment Fund and the Greater New Haven Community Loan Fund, shaping an organization with a statewide history of service stretching back to 1968.
About UI: The United Illuminating Company (UI) is a subsidiary of AVANGRID, Inc. Established in 1899, UI operates approximately 3,500 miles of electric distribution lines and 139 miles of transmission lines. It serves approximately 335,000 customers in the greater New Haven and Bridgeport areas of Connecticut. UI received the Edison Electric Institute’s Emergency Recovery Award recognizing the company’s response to the May 2018 storms that impacted its service territory. For more information, visit www.uinet.com.
About SCG: The Southern Connecticut Gas Company (SCG) is a subsidiary of AVANGRID, Inc. Established in 1847, SCG operates approximately 2,500 miles of natural gas distribution pipelines, serving approximately 197,000 customers in the greater New Haven and Bridgeport areas of Connecticut. For more information, visit www.soconngas.com.
About CNG: Connecticut Natural Gas Corporation (CNG) is a subsidiary of AVANGRID, Inc. Established in 1848, CNG operates 2,160 miles of natural gas distribution pipeline, serving approximately 177,000 customers across 26 communities in the greater Hartford-New Britain area, and Greenwich, Connecticut. For more information, visit www.cngcorp.com.