CONNECTICUT'S 1ST DISTRICT As of the end of March 2008, Connecticut's 1st District had approximately 1,836 properties in Under the Senate-passed formula, Connecticut's 1st District stands to benefit from $13.0 million in direct funds for neighborhood stabilization with a multiplier effect of an additional $28.2 million as the estimated overall economic benefits of the neighborhood stabilization grants are $41.2 million in direct, It is estimated that these funds would be used to restore 306 properties to productive use, providing safe, affordable housing to its occupants. Rehabilitating those houses is anticipated to generate 263 new In addition, localities can expect to see a direct return of $1.0 million in property taxes (since in many cases, banks will not pay taxes on properties they do not expect to sell) as well as a savings of $3.1
CONNECTICUT'S 2ND DISTRICT As of the end of March 2008, Connecticut's 2nd District had approximately 1,676 properties in Under the Senate-passed formula, Connecticut's 2nd District stands to benefit from $11.9 million in direct funds for neighborhood stabilization with a multiplier effect of an additional $25.6 million as the estimated overall economic benefits of the neighborhood stabilization grants are $37.5 million in direct, It is estimated that these funds would be used to restore 254 properties to productive use, providing safe, affordable housing to its occupants. Rehabilitating those houses is anticipated to generate 239 new In addition, localities can expect to see a direct return of $0.9 million in property taxes (since in many cases, banks will not pay taxes on properties they do not expect to sell) as well as a savings of $2.5
CONNECTICUT'S 3RD DISTRICT As of the end of March 2008, Connecticut's 3rd District had approximately 2,335 properties in Under the Senate-passed formula, Connecticut's 3rd District stands to benefit from $15.5 million in direct funds for neighborhood stabilization with a multiplier effect of an additional $33.5 million as the estimated overall economic benefits of the neighborhood stabilization grants are $49.0 million in direct, It is estimated that these funds would be used to restore 303 properties to productive use, providing safe, affordable housing to its occupants. Rehabilitating those houses is anticipated to generate 312 new In addition, localities can expect to see a direct return of $1.2 million in property taxes (since in many cases, banks will not pay taxes on properties they do not expect to sell) as well as a savings of $3.0
CONNECTICUT'S 4TH DISTRICT As of the end of March 2008, Connecticut's 4th District had approximately 1,670 properties in Under the Senate-passed formula, Connecticut's 4th District stands to benefit from $11.4 million in direct funds for neighborhood stabilization with a multiplier effect of an additional $24.6 million as the estimated overall economic benefits of the neighborhood stabilization grants are $36.0 million in direct, It is estimated that these funds would be used to restore 106 properties to productive use, providing safe, affordable housing to its occupants. Rehabilitating those houses is anticipated to generate 229 new In addition, localities can expect to see a direct return of $0.9 million in property taxes (since in many cases, banks will not pay taxes on properties they do not expect to sell) as well as a savings of $1.1
CONNECTICUT'S 5TH DISTRICT As of the end of March 2008, Connecticut's 5th District had approximately 2,183 properties in Under the Senate-passed formula, Connecticut's 5th District stands to benefit from $14.2 million in direct funds for neighborhood stabilization with a multiplier effect of an additional $30.7 million as the estimated overall economic benefits of the neighborhood stabilization grants are $44.9 million in direct, It is estimated that these funds would be used to restore 267 properties to productive use, providing safe, affordable housing to its occupants. Rehabilitating those houses is anticipated to generate 286 new In addition, localities can expect to see a direct return of $1.1 million in property taxes (since in many cases, banks will not pay taxes on properties they do not expect to sell) as well as a savings of $2.7