Somers Receives Housing Assistance from CL&P

Connecticut Light & Power has announced that the company has purchased $7.75 million in 2011 tax credits to support housing programs across the state through the Connecticut Housing Finance Authority's Housing Tax Credit Contribution program. 

"These are shareholder dollars that go directly to organizations that need the money to fulfill their housing missions," said CL&P President and Chief Operating Officer Jim Muntz in a statement. "We've been participating since 2002. Tax credits have become a significant asset for the development of low-income and supportive housing across the state." 

"These programs are much more than simply cash for the credits," added Muntz. "They help strengthen communities, create jobs, and drive economic growth, and that helps everyone in Connecticut."   

The Housing Tax Credit Contribution tax credit purchases will help 27 organizations in 12 communities across the state. By participating in these tax credit programs, CL&P supports the development of affordable housing units, shelter for victims of domestic violence, energy efficient buildings, and the rehabilitation of blighted industrial space.  

One of the towns benefitting from this purchase is Somers, which received a $500,000 housing tax credit contribution.

David Pinney, from the Somers Housing Authority, said that it means a great deal to the new construction that is Phase II at Woodcrest. 

"We are 60 new apartments, but funding has been very tight this time around," he said. "Working with our developer consultant and the town, the Housing Authority had applied for both a small cities grant and a Connecticut housing tax credit grant. We were counting on at least one to come through in order to complete the basic needs for the new units. If we had failed with both grants, we would have had to give up some important components, such as a generator to power the big building during a power outage, and potentially have to actually scale back the project."

He said that with the $500,000 from CL&P, the authority is proceeding with the basic plan and providing the necessities.  

"If we had received both grants, we had plans to put in more sidewalks and create a commercial kitchen in the new large building (where 34 of the new apartments are located), and with that have the ability to serve meals for those residents that might be finding it difficult to cook and maintain a nutritious diet," he said.  

He continued, "We will pursue other grants as opportunities arise and perhaps we can create the kitchen at some point in the near future. But in the meantime, the $500,000 from CL&P means we can anticipate completing the project to provide 60 additional attractive, secure and affordable housing for low-income seniors and disabled citizens."

Pinney said that the project is going well with no unanticipated problems or expenses popping up. 

"The general contractor indicates the first units will be ready for final inspection and then occupancy in July and all of the units should be occupied by the early fall," he said.