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CHFA Mortgage Committee recommends financing for multiple Connecticut housing projects
Summary
On March 17, 2026, the Connecticut Housing Finance Authority (CHFA) Mortgage Committee recommended financing for several affordable-housing projects across Connecticut — including Windsor Locks TOD — and forwarded those recommendations to the CHFA Board of Directors; a few votes recorded an abstention by Timothy Hodges.
Committee member Lisa Tepper Bates called the Connecticut Housing Finance Authority Mortgage Committee to order at 10:32 AM on March 17, 2026, and a quorum was recorded. The committee reviewed a slate of financing and modified-financing resolutions for multifamily properties across the state and voted to recommend each to the CHFA Board of Directors for final consideration.
Multifamily Development Officer IV Steven Norris presented a resolution authorizing financing for 55 Nye in Glastonbury (the minutes refer to the property as both “55 Nye Road” and “55 Nye Street”). Deputy Commissioner Matthew Pugliese moved to recommend the resolution; Gregory Ugalde seconded. The committee voted in favor and recommended the resolution to the Board; Timothy Hodges recorded an abstention on that vote.
Underwriter Kyle Walker presented a resolution for Avon Village in Avon. Gregory Ugalde moved to recommend the resolution, with Wendy Clarke seconding; the committee recommended the resolution to the Board and Mr. Hodges abstained.
Elizabeth Valigorsky presented resolutions authorizing modified financing for Hart Street Gardens in New Britain and for Heritage Glen Apartments in Farmington. The committee voted unanimously to recommend both modified-financing resolutions to the Board.
Tre'Von Perry presented the resolution for Oak Park Phase 2 in Stamford. The committee moved to recommend the resolution to the Board by roll call; Mr. Hodges abstained.
Michelle Onofrio presented a resolution authorizing a bond inducement for the acquisition of the Subsidized Housing Partners portfolio of properties (listed in the minutes as located in various Connecticut towns). The committee voted unanimously to recommend the inducement to the Board.
Colette Slover summarized a two-pronged financing structure for Windsor Locks TOD Phase 1: a 4% tax-exempt/taxable bond blend and opportunity fund proceeds in an aggregate principal amount not to exceed $14,550,000 for Phase 1A, and taxable bonds and opportunity fund proceeds in an aggregate principal amount not to exceed $3,100,000 for Phase 1B (9%). The committee voted unanimously to recommend both Windsor Locks TOD financing resolutions to the Board.
The committee also approved the February 17, 2026 Mortgage Committee minutes by unanimous vote. With no further business, committee members adjourned at 11:18 AM.
Votes at a glance: 55 Nye (Glastonbury) — recommended to Board; mover Matthew Pugliese, seconder Gregory Ugalde; Timothy Hodges abstained. Avon Village (Avon) — recommended to Board; mover Gregory Ugalde, seconder Wendy Clarke; Timothy Hodges abstained. Hart Street Gardens (New Britain) — recommended unanimously. Heritage Glen Apartments (Farmington) — recommended unanimously. Oak Park Phase 2 (Stamford) — recommended; Timothy Hodges abstained. Subsidized Housing Partners portfolio (various towns) — bond inducement recommended unanimously. Windsor Locks TOD Phase 1A — recommended unanimously; amount not to exceed $14,550,000. Windsor Locks TOD Phase 1B — recommended unanimously; amount not to exceed $3,100,000.
Next step: each recommended resolution will be considered by the CHFA Board of Directors at a subsequent board meeting; the minutes provide no further detail about the substance of the committee discussions beyond the presentations and motions.
