CHFA and Housing Department defend continued housing trust and Time To Own funding to sustain production and down‑payment aid

Connecticut housing agencies asked the bonding subcommittee to sustain major capital programs that support both rental production and homeownership.

Nandini Natarajan, CHFA chief executive, said the governor's capital budget keeps $150 million in the Housing Trust Fund and preserves Build for CT and Time to Own funding. "Since launching in late 2023, Build 4 CT has supported more than 3,100 new rental units, including nearly 900 units for households earning between 60 and 120% of area median income," she said. CHFA asked the committee to support flexibility in legislation that would allow $5 million of unallocated EMAP authorization to be used for down‑payment assistance as demand evolves.

CHFA also described Time to Own, its forgivable down‑payment program: the agency reported roughly 848 loans closed and more than $23.5M in assistance as of late January, and said an additional $60M would permit about 2,500 more households to access down‑payment help. CHFA and DOH officials said Build for CT revenue loans are designed to pair market‑rate development with set‑aside affordable units rather than fund infrastructure.

DOH staff summarized statewide delivery: units completed since 2019, units under construction and a pipeline of projects; they described emergency repair spending to avoid resident displacement and the housing receivership program's recent use to stabilize troubled properties.

Legislators requested project lists and county breakout details; CHFA and DOH committed to provide the subcommittee with lists of Build for CT closings and pipeline projects for committee review.