03 Sep 2026 What are CITCs, anyways?
HBI and the Hyde Park Historical Society have partnered with the Southwest Boston CDC to create a CITC Fund for rehabilitation of the 1896 Phillips Brooks Memorial Library in Hyde Park. Here, we’re taking a step back to see how CITCs and CDCs themselves can further historic preservation efforts in our communities. If you’re able, consider a gift to the Southwest Boston CDC’s Brooks Library Roof Fund today.
Community Investment Tax Credits, or CITCs, are a unique tax incentive offered by the state of Massachusetts to “enable local residents and stakeholders to work with and through community development corporations (CDCs) to partner with nonprofit, public, and private entities to improve economic opportunities for low and moderate income households and other residents in urban, rural, and suburban communities across the Commonwealth.”
CITCs allow a community development corporation to energize fundraising efforts by providing their donors with a 50% tax credit for donations over $1000. The amount of credits allocated to a CDC within a given tax year is a set amount, so be sure to consult your local CDC and personal tax advisor before making a gift.
The program was created by Chapter 238 of the Acts of 2012. Since then, the state of Massachusetts has awarded over $100 million in credits across the Commonwealth to advance development that will improve opportunities for our communities.
Community Development Corporations (CDCs) themselves also have an interesting history. CDCs were born out of Urban Renewal efforts of the 1960s that saw metropolitan communities, primarily residents of color, struggling to combat displacement as so-called “undesirable” neighborhoods were demolished to make way for new housing and highway infrastructure. Lyndon B. Johnson’s 1964 Economic Opportunity Act preceded the incorporation of CDCs, providing the grass-roots framework and resources so local organizations could provide job opportunities and affordable housing to break cycles of poverty within their own communities. In 1966, Senator Robert F. Kennedy worked with residents to create the first CDC in Brooklyn, NY. That same year the Lower Roxbury Community Corporation was established, the first of its kind in Boston. It was later renamed the Madison Park Development Corporation, to honor the demolished local park.
Historic Boston Inc. and the Hyde Park Historical Society have partnered with the Southwest Boston CDC in order to offer these benefits to donors helping us “Raise the Roof” for the 1896 Phillips Brooks Memorial Reading Room. This effort is focused on securing the structure with a new roof before winter, so time is of the essence!
