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Representative Luxembourg proposes 'Propel CT' housing authority to buy existing units and create permanent affordability
Summary
Representative Jeff Luxembourg outlined "Propel CT," a proposal to revive a housing authority within CHFA seeded with $25 million to buy existing housing, deed-restrict units, and recapitalize the fund with rental income to scale permanent affordable housing.
Representative Jeff Luxembourg told the Housing Committee he is sponsoring a proposal he calls "Propel CT," which would reconstitute a housing authority within the Connecticut Housing Finance Authority to acquire existing housing — rather than primarily build new units — and hold those units as permanently deed-restricted affordable housing.
"Propel CT acts like an affordable housing real estate investment trust," Luxembourg said. Under his proposal, the authority would be seeded with a one‑time $25 million bond allocation, leverage CHFA lending and private bank lending, acquire residential units across the state and lease them to qualified tenants,…
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