Delnicki Supports ‘Homes for CT’ Proposal

Delnicki Supports ‘Homes for CT’ Proposal

HARTFORD- To address Connecticut’s severe housing shortage, State Rep. Tom Delnicki (R-14) supported legislation on Thursday in the Banking Committee establish the “Homes for CT” loan program.

The legislation, House Bill 6992 would create the “Homes for CT” loan program to assist eligible borrowers obtain funding necessary for the construction of residential buildings.

The bill would create a public-private partnership among participating lenders, the state, homebuilders and CHFA—similar to how CHFA’s Build for CT program currently supports multifamily rental housing.

The program would be designed to help homebuilders secure ‘lower cost’ financing for residential construction, resulting in low.er pricing for entry level homes.

The houses would be sold to buyers through the Connecticut Housing Finance Authority (CHFA), ensuring they’d be made affordable. The program would operate alongside the successful Build for CT program, which is geared toward increasing construction for affordable multi-family rental properties.

“That’s what it’s all about, the American Dream, the opportunity to be able to live in your own home and to prosper and to have a family and set your roots in Connecticut.” Rep. Delnicki, who co-sponsored the legislation said, “Innovative initiatives like this are essential to expanding housing opportunities, supporting economic growth, and ensuring more individuals and families have access to homeownership.”

The Homes for CT bill now heads to the House of Representatives for a full debate and vote.