Bartolomeo Puts Seal of Approval on New Affordable Home Legislation

The following was submitted by Lawrence Cook, press aide for State Sen. Dante Bartolomeo.

State Senator Dante Bartolomeo (D-Meriden), who is Senate Chairwoman of the legislature’s Housing Committee, stood beside Governor Dannel P. Malloy today as he signed into law a new measure that will increase Connecticut’s investment in affordable single- and multi-family homes.

The new law increases, from $1.5 billion to $2.25 billion, the amount of mortgage purchases and loans that the Connecticut Housing Finance Authority (CHFA) can make in order to create more affordable housing in Connecticut. Recent studies indicate there is only one affordable rental unit for every three low-income families in need.

“It has been an honor to be the freshman Senate Chair of the Housing Committee at a time when we are making so many important investments in Connecticut housing,” Bartolomeo said. “Families can stay and grow in Connecticut if they have access to  affordable housing. Today’s investment in CHFA will allow it to continue to make the necessary and responsible housing investments it has been making for over 40 years.”

Since 1969, CHFA has provided financing for nearly 40,000 housing units and administered more than 130,000 single family mortgages; in 2012 alone, CHFA financed the construction or rehabilitation of 2,025 housing units in Connecticut and provided 1,445 single-family mortgages.

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