Housing Trust Fund for Economic Growth and Opportunity
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The National Low Income Housing Coalition is providing this data as a public service. NLIHC will continue to update the database. The accuracy of the data is based on information provided by the programs' administrators and user submissions.
Administered by the Department of Housing (DOH), the Connecticut Housing Trust Fund for Growth and Opportunity was founded in 2005. The Housing Trust Fund is designed to create affordable housing for low and moderate income households. The funds are awarded as loans and/or grants to eligible sponsors of affordable housing. The program encourages the creation of homeownership housing for low and moderate income families, promotes the rehabilitation, preservation, and production of rental housing and the development of housing that aids in the revitalization of communities. Eligible projects can serve households with incomes up to 120% area median income (AMI), but most funding is used for units that are restricted at lower affordability levels. The Trust Fund provides gap financing, grants, loan guarantees, low- and no-interest loans, and funding for the Connecticut Individual Development Account housing program. Additionally, an Advisory Committee advises the Commissioner on the management and objectives of the program, and on the development of regulations, procedures, and rating criteria for the program.
Funding comes from the state through general obligation bonds. Funding in FY13, FY14, and FY15 was $30 million.
Contact: Michael Santoro, Connecticut Department of Housing, 860-270-8224, [email protected]