Connecticut is pumping $159 million into programs that expand affordable multifamily housing statewide, authorities say.
The governor’s office, plus the state housing department and the Connecticut Housing Finance Authority, announced Monday the housing-finance initiative channeled through seven programs:
• $33 million will be available for the state sponsored housing portfolio for various housing developments.
 o $14 million is available for projects that need state capital funds, with or without Tax Exempt Bond (TEB) financing and 4 percent Low-Income Housing Tax Credits (LIHTCs). The deadline to apply is Sept. 20.
 o Applicants have until Nov. 18 to apply for state capital funding for projects that also need 9 percent Low-Income Housing Tax Credits. Approximately $6 million will be available.
 o Applicants have until Sept. 16 to apply for grants to cover predevelopment costs. Approximately $3 million will be available.
 o Applicants have until Jan. 13, 2014 to apply for funding for projects that need only moderate rehabilitation work. Approximately $10 million will be available.
• $30 million will be provided by DOH through the state’s Supportive Housing initiative for developments that have a significant number of affordable rental units that include support services. Applicants have until Nov. 5 to apply.
• $25 million will be available for the fourth round of funding under the Competitive Housing Assistance for Multifamily Properties (CHAMP) initiative, for projects seeking state capital funds with or without CHFA TEB financing and 4 percent LIHTCs. Owners and developers of affordable multifamily rental developments must apply by Dec. 16.
• $25 million will be available for the fifth round of CHAMP funding to owners and developers of affordable multifamily rental developments, for projects seeking state capital funds with or without CHFA TEBs and 4 percent LIHTCs. Applications are due June 16, 2014.
• $15 million will be offered for Specialty Priority Projects and Programs administered by DOH. Projects and programs that promote transit-oriented development, fair housing, or contribute to ending homelessness are eligible. Applications must be submitted by March 3, 2014.
• $11 million in Small Cities Community Development Block Grants, administered by DOH, will be available to eligible municipalities for programs and projects that benefit low- and moderate-income residents. Applications are due April 7, 2014.
• $10 million will be available under the Housing Tax Credit Contribution (HTCC) program. This CHFA-administered program promotes up to $500,000 to nonprofit organizations in the form of state tax credits that can then be sold to state businesses to support to the nonprofit’s housing projects. The credits represent a dollar-for-dollar reduction in tax liability. The deadline for applications is April 7, 2014.
• $10 million will be available for projects that seek 9 percent LIHTCs administered by CHFA. This program provides federal tax credits that may be sold to raise equity for a project. Developers and owners of qualified low-income housing must apply by Nov. 18.
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