On March 26, Gov. Malloy and Department of Housing (DOH) Commissioner and Connecticut Housing Finance Authority (CHFA) Board Chairman Klein announced the award of over $60 million in state funding to build and rehabilitate 851 affordable units and 246 market-rate units in 14 projects throughout the state. The projects announced were awarded funding through the state Competitive Housing Assistance for Multifamily Properties (CHAMP) initiative or the federal 9% Low Income Housing Tax Credit (LIHTC) program.
CHAMP is administered by DOH while the state’s LIHTC allocation is administered by CHFA. In addition to the $60 million in state capital funding provided by DOH, additional resources for the 14 projects include $84.6 million in projected equity through federal 4% and 9% LIHTC credits and an additional $19.4 million made available by CHFA through tax exempt bond financing.
Developments funded by CHAMP in this round:
- Brookfield Village, Brookfield
- Essex Place, Essex
- Norfolk Town Center, Norfolk
- The Lofts at Ponemah Mills, Norwich
- Metro Green 3, Stamford
- Westfield Heights, Wethersfield
- Brown Building, Waterbury
- Schoolhouse Apartments, Waterbury
Developments funded by 9% LIHTCs in this round:
- 515 West Avenue, Bridgeport
- Avery Park Revitalization, Stafford
- Crescent Crossing Phase 1B, Bridgeport
- East Street Apartments, New Milford
- The Mill at Killingly Apartments, Killingly
- Spruce Ridge/Meadows, Pawcatuck
Click here to read the press release which includes more detailed information about the developments funded.