Nonprofits awarded $10 million in credits to boost housing

News

HARTFORD, Conn. (AP) — The Connecticut Housing Finance Authority has awarded $10 million in special tax credits to encourage more affordable housing.

State Housing Tax Credit Contributions, or HTCCs, were awarded this month to a dozen nonprofit developers and nonprofit housing loan funds that are developing 596 affordable units in 16 communities. Under the program, recipients can offer the tax credits to businesses in exchange for a cash contribution.

Seila Mosquera-Bruno, chair of the authority’s board of directors and Connecticut’s housing commissioner, says the program provides nonprofits with access to private funding while offering businesses a chance to invest in affordable housing while reducing their tax liabilities.

The projects range from six affordable homes being built in Norwich by Habitat for Humanity of Eastern Connecticut to the renovation of 186 affordable apartments in Trumbull.

==

Free download: Access Connecticut breaking news, weather, stream newscasts live and more on-the-go with News 8 alerts directly to your phone.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Hartford

Pit bull killed by Enfield Police officer as it attacked, seriously injured woman, dragged her

News /

48-year-old man shot, killed in Auto Zone parking lot in Hartford

News /

Sec. of State Denise Merrill talk with News 8 about Election Day, absentee voting

News /

Hartford police identify victim of fatal motorcycle, tractor-trailer collision on Airport Road

News /

CSP now on the job with Hartford police in effort to curb violent crime

News /

Hartford Public Schools to continue in-person, full-time learning through Nov. 6

News /
More Hartford

Trending Stories

Don't Miss

More Don't Miss