The Housing Trust Fund Program
History: The Housing Trust Fund Program was effective on July 1, 2005. The program provides gap financing, grants, loan guarantees, low-and no-interest loans, and funding for the Connecticut Individual Development Account housing program. Additionally, an Advisory Committee advises the Commissioner on the management and objectives of the program, and on the development of regulations, procedures and rating criteria for the program.
Purpose: P.A. 05-5 (June Special Session) - The Housing Trust Fund Program is administered by the DOH and is designed to create affordable housing for low and moderate-income households. The funds are awarded as loans and/or grants to eligible sponsors of affordable housing. The program encourages the creation of homeownership housing for low and moderate income families, promotes the rehabilitation, preservation and production of rental housing and the development of housing which aids the revitalization of communities.
Source of Funding: General Obligation Bonds
Process: This program by law is required to be a competitive application process. Within available appropriations, DOH solicits applicants for eligible applicants twice each year. Applicants must complete DOH/CHFA Consolidated Application.
Eligible Applicants are:
- Nonprofit Organizations
- Local Housing Authorities
- For-Profit Organizations
- New Construction
- Multi-family rental housing
- Adaptive re-use of historic structures
- Special needs housing
- Redevelopment of vacant properties
- Infrastructure improvements
- Housing for individuals or families with incomes up to 120% of Area Median Income
Statutory Link: Connecticut General Statutes, Chapter 137e, Section 8-336m through q
Regulatory Link: Regulations of Connecticut State Agencies, Sec. 8-336q