Connecticut
Connecticut Updates AFS Workbook
The Connecticut Housing Finance Authority (CHFA) updated its Audited Financial Statement (AFS) excel workbook.
Connecticut Webinar on LIHTC Compliance Monitoring – Nov. 10
The Connecticut Housing Finance Authority and Spectrum are hosting a webinar on LIHTC compliance.
Connecticut QAP Overview Webinar – Oct. 13
The Connecticut Housing Finance Authority will hold a virtual overview session to introduce the 2022-2023 QAP and its associated guidelines and to address any questions with respect to the upcoming competitive nine percent LIHTC round.
Connecticut Approves 2022-2023 QAP
The Board of Directors of the Connecticut Housing Finance Authority (CHFA) adopted the 2022 and 2023 QAP and Gov. Ned Lamont (D) approved it on July 30, 2021.
CHFA’s Opportunity Fund
A pool of up to $3,000,000 is available as gap financing for proposed developments that demonstrate both a financial feasibility need and a prudent use of CHFA’s resources in order to accomplish flexibility and additional opportunities in the development of affordable housing throughout the State of Connecticut. Please note that funding is subject to ongoing availability and further information detailing all eligibility requirements is available here.
CHFA’s Affordable Housing Fund (Capital Magnet Fund + CHFA’s matching investment)
A pool of up to $6,000,000 is available for proposed developments that satisfy Capital Magnet Fund (CMF) program requirements specific to CHFA, which, among other requirements, includes:
1. Resident population: Minimum set-asides for households with incomes less than 50 percent of area median income;
2. Location: Eligible proposed developments must be located in areas of economic distress and
3. Leverage: Eligible proposed developments must achieve a private leverage capital ratio of 10:1.
$1 Million in Gap Financing Available from Connecticut
In connection with the 2021 Connecticut Housing Finance Authority (CHFA) & Department of Housing (DOH) Developer Engagement Process (DEP), CHFA intends to make flexible gap financing available from new funding sources. CHFA encourages participants in the 2021 DEP to consider the potential contribution and applicable requirements that these new funding sources would bring to development proposals with a need for additional financing resources. A maximum of $1,000,000 is available for any proposed eligible development.
Connecticut Development Engagement Process
The Department of Housing (DOH), in collaboration with the Connecticut Housing Finance Authority (CHFA), is inviting a time-limited participation in the second year of its Development Engagement Process (DEP).
Connecticut Hosts QAP Hearing May 19
The Connecticut Housing Finance Authority will host a public hearing at 1 p.m. ET on May 19 on its 2022-2023 draft QAP.
Connecticut Offers $10 Million in State LIHTC
The Connecticut Housing Finance Authority (CHFA) anticipates making available $10 million in state tax credits to nonprofit applicants that will create housing opportunities in the following classifications…
Connecticut Unveils Opportunity Map
The Connecticut Housing Finance Authority (CHFA) and the Department of Housing (DOH) announced that a new Connecticut Opportunity Map has been developed for use in future financing opportunities offered by CHFA and DOH.
Connecticut 2021 LIHTC Applications
Connecticut Housing Finance Authority is currently working on changes to the Consolidated Application and the LIHTC Program Guidelines to clarify and streamline the application process. Applications are tentatively likely to be due within a May-June timeframe, with awards to be announced by September or October. Please contact Michelle Onofrio with any questions at [email protected].