This past fall, the Partnership began supporting the Connecticut Housing Finance and Development Roundtable (CHFDR), a group of Community Development Financial Institutions (CDFIs) providing capital to communities across the state. Members include, Capital for Change, Grow America, Hartford Community Loan Fund, Housing Development Fund, Leviticus Fund, and LISC Connecticut.
CDFIs are flexible, mission-based lenders that provide financial services to underserved communities. Members of the CHFDR are vital in financing the creation of affordable housing and small businesses by providing flexible, low-cost loans to projects traditional lenders and government might not be the best fit for. Focused on equity and sustainability, CDFIs support housing solutions for low-income families and vulnerable populations, driving economic development and strengthening communities.
Through monthly convenings, the CHFDR provides a collaborative space for Connecticut’s CDFIs to work together in elevating their work and expanding their reach across the state. This past February, the roundtable held its first public event at the state capitol building, hosting legislators, staff, and economic development professionals for a CDFI 101 workshop. Members highlighted their organization’s mission and shared success stories of housing developments created through CDFI investment across the state. See those success stories here. Discussion also centered on the existing collaborations between CDFIs and the State of Connecticut, highlighting how CDFI financing helps to leverage state funds and advance housing creation in ways the blend public and private dollars to maximize impact.
At the end of March, members of the roundtable came together in Middletown to address a room of 40 housing developers. Each organization presented on their products and services – emphasizing their willingness to collaborate to get deals to the finish line. In addition to financing for housing creation, members of the roundtable shared other services that contribute to building stronger communities. Capital for Change and Hartford Community Loan Fund discussed their Emerging Developers Resource Initiative which provides training and technical assistance to local developers looking to expand their knowledge and ability to renovate and create housing – building an important community development pipeline. Housing Development Fund shared how their down payment assistance programs enable low-income households to achieve homeownership, and LISC highlighted how their financing has helped childcare centers across the state.
Stay tuned for more from the Connecticut Housing Finance and Development Roundtable! Want to be kept in the know? Sign up for our mailing list to hear about upcoming events.