December 20, 2017

Federal affordable housing agency funds $4.2M for CT cities

The Federal Home Loan Bank of Boston has awarded $4.2 million to six Connecticut cities and towns, including $2.4 million for Hartford.

The projects, funded in part through FHLB-Boston's Affordable Housing Program, will create or preserve 171 affordable units of rental and ownership housing throughout the state. Units are rented to individuals and families earning up to 80 percent of the area median income.

Besides the cities of Hartford and New Haven, towns benefitting include Jewett City, Norwich, Niantic and Norwalk.

The funds were awarded to projects through financial institutions in the region that are members of FHLB Boston. The grants and loans will be used to help pay construction, acquisition or rehabilitation costs.

The awards include:

  • A $999,956 grant and subsidy and $1.4 loan in Hartford for new construction at Westbrook Village I;
  • A $699,114 grant and subsidy and $550,000 loan for 36 units at 100 South Main St. in Norwalk;
  • A $15,000 grant for one Habitat for Humanity home in Jewett City;
  • A $500,000 grant for acquisition and rehabilitation of 71 public housing units at Waverly Townhouses in New Haven;
  • A $25,000 grant for a Habitat for Humanity home in Niantic; and
  • A $20,000 grant for two units at the Golden Street Duplex in Norwich.
Comments

Type your comment here:

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

 
Today's Poll Will the new federal tax reforms help or hurt Connecticut in the long run?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media