60 Million of Tax-Exempt Bond Financing Available for Rental Housing Under New Notice of Funding Availability (“NOFA”)

April 15, 2010 – (RealEstateRama) — The Connecticut Housing Finance Authority (CHFA) announces availability of approximately $60,000,000 for construction and permanent Tax-Exempt Bond (TEB) financing for multifamily rental housing developments.  TEB financing is typically paired with 4% Low-Income Housing Tax Credits (LIHTC) as a source of investor equity.  Under this notice of funding availabilty, CHFA will be accepting both TEB financing and 4% LIHTC applications.

Please find the Consolidated Application here.  or

CHFA-DECD Consolidated Application

The CHFA / DECD Consolidated Application is now in zip format. PLEASE NOTE:
Older versions of Windows may need a separate utility to open/extract zip files, like WinZip or IZArc. IZArc can be downloaded for free at http://www.izarc.org. If your computer does not have zip capability, please first download the zip software then follow the instructions below to download the application.

1. Click on the CHFA / DECD Consolidated Application link, choose save and choose a folder where the application will be saved.

2. When the download is complete, close the “download complete” box – do not open the folder.

3. Go to the location where the CHFA / DECD Consolidated Application zip file was saved. Right click on the zip file icon and choose “Extract.” This action will create a new folder entitled CHFA / DECD Consolidated Application.

4. Open the new folder and open the “Consolidated Application – Start Here” pdf file to navigate through the application. This is the only document you will need to access the application. Links to the appropriate workbooks are contained in the pdf file.

5. Updates to the application will be released periodically through email blasts and posted on the CHFA website (for example, when updated rent information is available). At the time of an update, all application files will be downloaded and you may delete the folder with the previous version.

6. Questions may be directed to: ctconsolidatedapplication (at) chfa (dot) org or Hillary Grande at (860) 571-4290.

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