Affordable Housing, State News

Bond Commission Allocates $18 Million for Affordable Housing

 

The State Bond Commission voted to allocate nearly $18 million for construction and rehabilitation of 390 units of affordable housing across the state Friday, creating an estimated 391 construction related jobs.

The commission voted to fund:

  • A $11.3 million loan for rehabilitation and construction of 235 units of affordable housing at the former Corbin Heights housing project in New Britain creating approximately 237 construction related jobs.
  • A $2.6 million grant to the Winchester Housing Agency Development Corporation for the development of 32 new units of affordable elderly housing on Gay Street in downtown Winsted, creating approximately 85 construction related jobs
  • A $3.7 million loan for rehabilitation and construction of 66 units of affordable housing at the former Pinnacle Heights Extension housing project in New Britain, creating approximately 64 construction related jobs.
  • A $225,000 grant to the CT Aids Resource Coalition (CARC) for the renovation of four AIDS residences, creating 5 construction related jobs.

The Bond Commission also funded $15 million in supplemental funding for the Local Capital Improvement Fund, which allocates money to each municipality based on its entitlement for a variety of infrastructure programs, including public housing projects.

In June, Connecticut passed the bond authorization bill and budget implementation legislation, which provides $100 million in new affordable housing capital - $50 million in each year of the biennium - split equally between the Department of Economic and Community Development (DECD)'s Housing Trust Fund and its Flex program, which provides funding for housing creation, restoration and other related uses. The bond bill also provides DECD with $30 million in the first year of the biennium for up to 150 new units of permanent supportive housing.

To Learn More:
Read the Bond Commission Agenda
Hartford Courant: State OKs $15 Million For New Britain Housing Redevelopment

 
 

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