WESTPORT, Conn. -- The state has awarded $18.3 million in grants and loans to help fund 13 affordable housing developments across the state, including projects in Westport and Danbury, Gov. Dannel P. Malloy announced Thursday.
“Increasing the availability of affordable housing is a top priority because the benefits extend far beyond the families and communities immediately impacted,” Malloy said in a statement. “More and more, we understand the economic results — studies show that affordable housing increases spending and employment opportunities, boosts revenue for local governments, and reduces foreclosures and the negative associated costs."
Grant money will be awarded to the Housing Authority of the City of Danbury for a rehabilitation project on The Glen Apartments. The apartments, owned and managed by the Housing Authority of the City of Danbury, contains 100 apartments for the elderly in 23 buildings, which were constructed in two phases between 1962 and 1964.
The project will include converting heating and cooling systems, upgrading lighting and insulation, installing Call for Aid systems, and installing individual meters for each apartment. An emergency generator will also be installed and changes will be made to the community building to make it handicapped accessible.
The project will be funded with 4 percent Low-Income Housing Tax Credits and Tax-Exempt Bond financing from Connecticut Housing Financing Authority and $4.3 million in gap funding provided by Department of Housing.
The Westport Housing Authority will also receive grant money for a renovation project to Sasco Creek Apartments. The apartments, owned by the Westport Housing Authority and managed by Millennium Real Estate Services, is a moderate rental development of 33 individual mobile homes built in 1985. The property will be completely redeveloped to include 54 new apartments and new infrastructure.
The project will also be funded with 4 percent Low-Income Housing Tax Credits and Tax-Exempt Bond financing from Connecticut Housing Financing Authority and $5.7 million in gap funding provided by Department of Housing.
“We are proud to be part of the team working to strengthen the state’s housing portfolio,” said Eric Chatman, president and executive director of CHFA. “Each investment in these units has a direct impact on the quality of life for residents, while increasing safety, sustainability and reducing operating costs.”
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