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CHFA amends Curtis Cofield II financing, approves financing for The Warner and authorizes Series N bonds
Summary
The CHFA Board amended prior financing for Curtis Cofield II Estates (New Haven), approved permanent and additional loans for The Warner (Woodbridge) with affordability covenants, and authorized up to $3 million in Series N bonds to support multifamily financing.
The Connecticut Housing Finance Authority Board on April 23 adopted an amended resolution adjusting permanent and subordinate loan terms for Curtis Cofield II Estates in New Haven and approved mortgage financing for The Warner in Woodbridge, subject to funding availability and affordability covenants.
For Curtis Cofield II Estates (CHFA Tax Credit No. CT-24-912M), the Board amended prior resolution language to make subordinate loans coterminous with the Authority’s permanent loan financing and restated closing deadlines; the amended resolution preserves prior tax credit reservations (totaling $1,319,929) and continues related conditions. The action followed a Mortgage Committee recommendation presented by Pasquale Guliano and the resolution was moved by Catherine MacKinnon and seconded by Heidi DeWyngaert.
For The Warner, the Board authorized a Permanent Loan up to $2,300,000 (with interest not to exceed 6.25% per annum) and an Additional Loan up to $1,000,000, subject to 35-year affordability restrictions, including 30 units set aside at or below 80% of area median income (AMI). The Authority also authorized a Series Resolution for up to $3,000,000 in Housing Mortgage Finance Program Bonds (2026 Series N) to be sold on a negotiated basis to fund such multifamily financing. The motions were adopted by unanimous roll call.
