Connecticut Delegation Announces $34 Million in Recovery Funds for Affordable Housing in Connecticut

WASHINGTON, D.C. - July 10, 2009 - (RealEstateRama) — Today, the Connecticut Congressional delegation announced that the Connecticut Housing Finance Authority (CHFA) will receive $34 million from the U.S. Treasury Department from the American Recovery and Reinvestment Act (ARRA) to spur the development of affordable housing across the state. In Connecticut, fewer houses are under construction, which means job losses in the building trades and related industries. And as more people are out of a job, affordable housing is in increasing demand.

“The recession has left our state sorely in need of more jobs and more affordable housing,” said Senator Chris Dodd (D-CT). “These funds will put Connecticut residents to work building affordable homes for Connecticut families.”

“During these difficult economic times, Connecticut will benefit from these funds to construct and rehabilitate homes for the citizens of our state,” Senator Joe Lieberman (ID-CT) said. “These funds will both help create housing options for our state’s low income citizens and provide more jobs.”

“Given the economic recession, there is greater need for quality, affordable housing options for moderate- and low-income families. Unfortunately, the recession has also sidelined many housing construction projects. With this funding we will spur construction and development, while creating jobs, of much-needed affordable, quality housing,” said Congresswoman Rosa L. DeLauro (CT-03).

Congressman John B. Larson (CT-01), Chairman of the House Democratic Caucus, said, “Recovery Act funds have provided our state with an unprecedented opportunity to invest in critical priorities that will create jobs and boost our economy. Funding like the $34,000,000 we are announcing today provides short-term help and long-term solutions to our economic problems. We are helping those hit hardest by the economic downturn with low-income housing and unemployment extensions. At the same time, we are creating the jobs and infrastructure that will grow our economy for years to come. It is critical that the state government accelerate its projects and put these critical funds to work.”

“The housing market is at the very base of our recovery. Without a rebound in housing construction, focused on creating homes that people can afford to live in, our communities will suffer. This funding will help Connecticut get back on track,” said Congressman Chris Murphy (CT-05).

“Developing affordable housing will provide a real shot in the economic arm for high-cost of living states like Connecticut that struggle to keep young families and individuals from leaving, and will create meaningful new jobs for the building trades that have suffered from the downturn in the housing market. In Connecticut, building permits are down 47 percent in 2009 as compared to the same period in 2008, which means that this investment is welcomed news and could not have come at a better time,” said Congressman Joe Courtney (CT-02).

“Nothing is more damaging to our communities than people losing their homes,” said Congressman Jim Himes (CT-04). “Housing was at the heart of this crisis, and I’m gratified we’re taking tangible steps toward making affordable housing available while creating jobs.”

Contact: Kristen Bossi
(202) 225-4476

Tagged as: ARRA, CHFA