Governor Signs Bill Signifying Further Commitment to Housing

 

On June 17, 2013, Governor Malloy stopped by the Lyceum Resource & Conference Center in Hartford to sign a bill contributing to the significant investments in affordable housing that have been made over the past three years.


This bill increases the commitments the Connecticut Housing Finance Authority can make to uninsured mortgage holders. The statutory cap has been increased from $1.5 billion to $2.25 billion. This change will allow CHFA to make commitments to purchase mortgages, provide the underlying mortgage loans are not directly or indirectly insured, in order to provide additional construction mortgages and permanent financing for housing in the state.


The Governor is proud of this bill, stating that “Every dollar spent on affordable housing generates multiple times that amount in private economic activity. This is the smart thing to do for our future.”


Evonne Klein, the Commissioner of the new Department of Housing was on hand to introduce the Governor while he commented on how much he “appreciates having an operation of government that is devoted to working housing development in our state.”

Click here to read the full press release. 

 

 
 

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