Affordable Housing, State News, Supportive Housing

CHFA Awards $10 Million for More Affordable Housing


The Connecticut Housing Finance Authority (CHFA) announced the results of its rating and ranking of the 2011 Housing Tax Credit Contribution (HTCC) Program applications Friday, awarding $10 million in tax credits for the development of 844 units of affordable and supportive housing across the state.

The HTCC program provides funding for housing programs sponsored by non-profit developers in Connecticut. The HTCC Program makes funding available for the development of affordable rental housing that benefits very low, low- and moderate- income families in Connecticut.  The program also can be used to capitalize a Revolving Loan Fund that lends money to affordable housing developments or eligible individuals who are purchasing a home; or a Workforce Housing Loan Fund that lends money to individuals purchasing a home in the city or town where they work.

Under the HTCC program, a non-profit corporation can receive up to $500,000 annually in state tax credits which can then be sold to state business firms in return for cash contributions to the non-profit corporation’s housing program.

To view a complete list of applicants, their ratings and the amount of credits awarded, click here.

Click here to learn more about the HTCC program.


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