CHFA mortgage committee recommends amended financing for West Ridge Apartments in New Haven

Oct. 29, 2024 — The Connecticut Housing Finance Authority Mortgage Committee voted unanimously to recommend that the CHFA Board consider an amended financing resolution for West Ridge Apartments, a multifamily project in New Haven.

Tre’Von Perry, an underwriter with CHFA, presented an amended resolution that would reserve housing tax credits from the “2024 or 2025 State housing credit ceiling” and authorize a $4,000,000 increase in tax-exempt bond proceeds to support a construction and construction-to-permanent first mortgage loan of up to $17,000,000 for the West Ridge Apartments project in New Haven. After discussion, Committee member Gregory Ugalde moved to recommend the resolution and Commissioner Seila Mosquera-Bruno seconded the motion. The committee then voted by roll call and was unanimously in favor of recommending the amended financing to the Board of Directors for consideration.

The committee’s recommendation is advisory; final approval would require action by the CHFA Board. The minutes record that the motion was made and seconded as described and that the committee members present voted unanimously to forward the resolution for Board consideration.

The meeting also included routine business. The committee considered and approved the Sept. 24, 2024 Mortgage Committee minutes (a motion by Gregory Ugalde, seconded by Commissioner Seila Mosquera-Bruno); Claudio Gualtieri abstained from that vote. Andrew Bolger provided the Homeownership Report and Yesy Clift provided the Multifamily Activities Report; the minutes note that discussion followed but do not record further formal actions.

The meeting was called to order by Vice Chair Heidi DeWyngaert at 1:01 p.m. and adjourned at 1:37 p.m. by unanimous consent.