Tax-Exempt Bonds (TEB)

Program Status
Program Description

Subject to availability, tax-exempt bond financing is contingent upon volume cap availability and is designated for transactions with a minimum of 20% of units affordable at 50% of the Area Median Income (AMI) and those seeking to utilize 4% LIHTCs. Applications are typically submitted concurrently with requests for competitive resources from the Connecticut Department of Housing (DOH) or other published notices

Program Type
Type of Funding
Source of Funds
Bonds
Funding Amounts/Limits

The amount of available TEB volume cap is limited to amounts allocated to CHFA or retained by the Office of Policy and Management (OPM).

Target Population(s)

Low income renter households

Links to Additional Resources

Eligibility

Eligible Applicants
Eligible Project Size
Other Eligibility Guidelines

Funding is used for transactions with a minimum of 20% units affordable at 50% of Area Median Income (AMI) and which are seeking to use 4% LIHTCs.
Applications are generally received in conjunction with requests for competitive resources from the Connecticut Department of Housing (DOH) or other published notices. Due to the limited nature of Connecticut’s tax-exempt bond authority, applications for tax-exempt bond financing 1) may be subject to a competitive process to secure a bond allocation; and 2) will not be accepted without the use of LIHTCs.

Application

Application Timeline

Rolling

Overview of Application Process

Competitive application process. Applications are typically submitted concurrently with requests for competitive resources from the Connecticut Department of Housing (DOH) or other published notices.

Additional Information

Other Notes

For current tax-exempt bond rates and rate lock information, see Multifamily Interest Rates – Multifamily Housing Developers | CHFA

Last Updated
June 6, 2024
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