Affordable Housing, Announcements, Community Development, State News, Supportive Housing

Bond Commission Approves Much Needed Affordable Housing

 

Continuing its commitment to create more affordable housing in CT, the Malloy Administration submitted a number of housing related items for consideration by the State Bond Commission, all of which received approval. The State Bond Commission met on March 13, 2013; the housing-related items on the agenda that were approved include the following:

  • The Capital Region Development Authority (CRDA) was approved for $17.7m to redevelop 777 Main St. Hartford (former Bank of America building) into 285 apartments. 59 of the units are for persons with incomes at or below 50% of Area Median Income (AMI).
  • The Department of Economic and Community Development (DECD) was granted $5m for the Flexible Housing Program for the revitalization of the state housing portfolio.
  • DECD was approved for $3.9m to assist with the redevelopment of the 777 Main St. Hartford property.
  • The Office of Policy and Management (OPM) was approved for $10m for the Small Town Economic Assistance Program to provide grants to municipalities.
  • DECD was allocated $3.3m for the Housing Trust Fund to provide supplemental funding for Competitive Housing Assistance for Multifamily Properties III (CHAMP III) program. It will be used to rehabilitate 90 units of affordable housing.
  • OPM was approved for $250,000 to provide grant-in-aid to Northside Institutions Neighborhood Alliance, Inc to finance renovations of the mixed use Zunner Building in Hartford. This development includes 4 units of affordable housing.

Click here to the full list of agenda items.
 

 
 

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