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COMMISSIONER SEILA MOSQUERA-BRUNO STATEMENT ON BOND COMMISSION

(HARTFORD, CT) Connecticut Commissioner of Housing Seila Mosquera-Bruno released the following statement regarding today’s Bond Commission meeting: “Thank you to the Governor and the Bond Commission for investing over $100 million in our programs, specifically:

•            $30 million - Flexible Housing Program

•            $50 million - Build For CT

•            $15 million - Time To Own

•            $9 million - Down Payment Assistance that includes Minority Teachers

 

This allows the Department of Housing to accelerate our important work of building high-quality units with affordable rents across Connecticut.  An essential part of our function is rehabilitating existing structures while adding new construction that serve all income levels but are always affordable. Affordable simply means that our residents such as teachers, public safety personnel, healthcare employees, and restaurant workers can live in or near the town where they’re employed, and young people can rent their first apartment or buy their homes.

Over 12,000 housing units, either new or rehabilitated, have been developed since 2019 and another 5,000 are currently under construction. Since 2022 almost 3,800 individuals and families closed on their first home because of Time To Own. These loans averaged $30,000 with participation in most of our cities and towns.

Connecticut, as well as the rest of the country, still face rising costs, low inventory, and increased demand. This new tranche of funding will help us build more, and more importantly help Connecticut individuals and families access the high quality of life they deserve.  From our traditional affordable housing activities, to gap-financing, to forgivable loans, to rehab, to building middle-income housing – this multi-tiered approach is an efficient way to utilize our finite resources.”

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For immediate release: June 7, 2024

Contact: Maribel La Luz

maribel.laluz@ct.gov

cell: 860-539-5485