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 Governor Lamont, the Bond Commission, and our legislators for approving the investment of $225 million in our programs, specifically:

•            $140 million - Flexible Housing Program

•            $50 million - Build For CT

•            $35 million - Time To Own

Our state continues to invest in increasing the supply of housing that is affordable for our residents. The $140 million approved today will be leveraged to build quality units for our residents on fixed or lower incomes, which is where the biggest need for housing exists. As of today, we have 6,400 units under construction. Every state dollar ($1) will generate another five ($5) in investment.

Build for CT was created in response to inflation, the rising interest rate and overall increase in costs of building that was depressing activity. This investment demonstrates our priorities and shows that we are serious about partnering with the private market to accelerate housing development in Connecticut.

Since the launch of Time to Own in June of 2022, almost 6,000 residents have become new first-time homeowners, with an average income of $70,000 and age of 34. We want to continue this successful program and help our residents particularly our younger ones afford to buy a home, especially when prices are very high.

From preventing homelessness and reimagining shelter experiences, to expanding homeownership opportunities, offering gap financing and forgivable loans, investing in rehabilitation, and building middle-income housing — the Department of Housing uses every tool possible to employ a comprehensive, strategic approach and maximize the impact of our limited state resources.”