Affordable Housing, Announcements, Community Development, State News

State Bond Commission Approves Funding for Housing and Economic Development

 

The State Bond Commission met on October 3, 2012. During that meeting it unanimously approved a Department of Economic and Community Development request for $11,040,915 in funds for the flexible housing program.

$7,040.915 is requested to preserve and recapitalize two supportive housing demonstration projects - Fairfield Apartments and Crescent Apartments - in Bridgeport. These units were originally financed through federal housing tax credits and tax-exempt bond funds that are at the end of their 15 year period. This funding would sustain these 2 projects for 30 years.

$4,000,000 is requested to provide a grant-in-aid to the Hartford Housing Authority to finance costs associated with decommissioning 770 units at the Bowles Park and Westbrook Village moderate rental housing developments.

The Commission also unanimously approved a DECD request for $150,000 for Regional Economic Development Assistance. These funds would be used to provide grants in aid for regional economic development planning to analyze demographic and socio-economic data to enable the regions to obtain economic development district status.

The funds would be distributed equally to the following:

  • Northwest Connecticut Economic Development Corporation
  • Central Connecticut Economic Alliance
  • MetroHartford Alliance 
  • Naugatuck Valley Community Economic Development Strategy
  • Housatonic Valley Council of Governments
  • Connecticut Estuary Region Council of Governments

Click here for the full agenda from the bond commission meeting.
 

 
 

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