Department of Economic and Community Development Catherine H. Smith, Commissioner
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1 Department of Economic and Community Development Catherine H. Smith, Commissioner Office of Housing and Community Development Michael Lettieri, Community Development Director
2 DECD s Mission The Department of Economic and Community Development develops and implements strategies to attract and retain businesses and jobs, revitalize neighborhoods and communities, ensure quality housing and foster appropriate development in Connecticut's towns and cities.
3 State Housing Policy DECD prepares the state s Consolidated Plan for Housing and Community Development and the State Long-Range Housing Plan. These 5 year strategic plans govern how the state administers its housing development funds. Both plans are available on the publications page of the DECD website ( State Housing, Economic and Demographic Data are also available in the research pages of the DECD website.
4 What DECD Does We help build new affordable housing or rehabilitate housing for both rental and home ownership We provide funding for programs that support affordable rental and homeownership and for services that support tenants/homeowners
5 Housing Development How We Can Help Initial Project Technical Assistance Meetings Assistance with Application Preparation Technical assistance on responsible growth and transportation oriented development Gap financing through the use of grants or loans for projects or programs
6 Housing Development Programs Affordable Housing Program/FLEX Housing Trust Fund Federal Home Investment Partnerships Program (HOME) Pre-Development Loans
7 Programs AHP/FLEX DECD s primary state funding source for housing projects Use of funds include acquisition, demolition, rehab, new constructions, etc. Open Application Process Housing for individuals or families with incomes up to 100% of AMI Both rental and homeownership projects Contact: Karen Santana, , karen.santana@ct.gov
8 Programs Housing Trust Use of funds include acquisition, demolition, rehab, new construction, etc. Competitive Application Process Housing for individuals or families with incomes up to 120% of AMI Both rental and homeownership projects Contact: Ed LaChance, ,
9 Programs - HOME Use of funds include rehab, new construction, demolition, and etc. Housing for individuals or families with incomes up to 60% of AMI for rental projects and 80% AMI for homeownership Subject to federal regulations such as: Davis-Bacon Labor standards, Procurement, Environmental Requirements, etc. Open Application Process $11-$13MM received annually -subject to federal appropriation Contact: Helen Muniz, , helen.muniz@ct.gov
10 Programs Pre-Dev Loans Deferred or Interest-free loans for eligible applicants up to $250,000 Use of funds include feasibility studies, planning/design costs, permitting costs, appraisals, carrying costs, site options (site acquisition not eligible), etc Open application process Contact: Karen Santana, ,
11 A FREE Service to List & Locate Accessible, Affordable or Market Rate Housing Available Online or Through Our Toll Free Call Center
12 Stamford Metro Green Apartments Rental Housing Construction TDC - $20,102,000 DECD Financing - $2,000,000 Housing Trust Fund Other Sources- Low Income Housing Tax Credits, private financing, owner investment 50 Units 60% AMI
13 Housing Development 5 year Performance Snapshot From fiscal year to date, DECD invested $225,029,193 the creation and preservation of affordable housing in Connecticut. DECD s investment, in 146 housing development and preservation projects, leveraged $902,019,972 in other funds and created 2,702 new units and preserved an additional 2,511 units of affordable housing.
14 Contact Information Michael Lettieri Phone: (860) Web:
15
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