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CHFA asks committee to let remaining EMAP bond funds be used for down‑payment assistance
Summary
The Connecticut Housing Finance Authority asked the housing committee to allow an existing bond authorization for its emergency mortgage assistance program (EMAP) to be used also for the agency’s down‑payment assistance program (DAP), saying the change would not increase the authorized amount but would give flexibility to deploy about $5 million remaining under the bond.
The Connecticut Housing Finance Authority testified early in the hearing in favor of Raise Bill 51‑62, which would expand eligible uses of an existing bond authorization to allow the agency to use remaining emergency mortgage assistance (EMAP) bond authority for its down‑payment assistance (DAP) program.
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