December 15, 2010 | last updated May 30, 2012 12:35 am

CL&P commits $7.4M more to CT housing

Energy provider Connecticut Light & Power is putting $7.4 million into another round of investment in support of the state's housing sector, officials say.

The electric utility unit of Hartford's Northeast Utilities says it will invest in 2010 housing tax credits, chiefly through the Connecticut Housing Finance Authority's Tax Credit Contribution program.

CL&P purchase of tax credits will benefit 20 organizations in 14 communities across the state, authorities say.

The latest round of credits is on top of more than $15 million in credits CL&P agreed to buy in June through the state Commission on Culture and Tourism to benefit more than a dozen nonprofit social support and housing development organizations.

The $22.4 million total for 2010 is the largest one-year tax credit purchase total in CL&P's history.

CL&P also announced Wednesday that it is buying tax credits worth $25,000 each from three organizations through the state Department of Revenue Services' Neighborhood Assistance tax credit program.

Among the recipients is the Metro Hartford Alliance for its "iQuilt" initiative, which the organization describes as "a pedestrian network which will weave together 44 of Hartford's downtown cultural assets and public spaces around the theme of cultural innovations."

"This will be a key component of our vision for downtown and the rest of the Capital City ...," said Oz Griebel, the Alliance's chief executive officer.


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