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New plan to boost CT home affordability incentivizes construction, repairs and ownership

Hartford Mayor Arunan Arulampalam and Governor Ned Lamont speak to other officials after a press conference in a vacant lot in the North End of Hartford where series of housing programs was announced on April 1, 2025.
Ryan Caron King
/
Connecticut Public
Hartford Mayor Arunan Arulampalam and Governor Ned Lamont speak to other officials after a press conference in a vacant lot in the North End of Hartford where series of housing programs was announced on April 1, 2025.

As homes in Connecticut continue to rise in cost, the state is launching a new program aimed at making it more affordable to purchase a home and also maintain one.

Gov. Ned Lamont announced a $30 million plan Tuesday morning in Hartford to increase home affordability.

CT Home Funds is a three-pronged approach to making homeownership affordable. This will foster a greater sense of community involvement and investment, Lamont said.

“Nothing like ownership. All of a sudden you have pride in what's going on in your community,” Lamont said. “Too many of these buildings are owned by landlords from out of state. They don't really care. You have ownership in a community like this, you care.”

CT Home Funds is made up of the Connecticut Home Improvement Program, the Time to Own Rehabilitation Program and the Homeownership Construction Program.

The $30 million will be administered by Capital for Change and the Housing Development Fund, according to Connecticut Department of Housing Commissioner Seila Mosquera-Bruno.

The program is designed to incentivize existing homeowners to stay in the community, Mosquera-Bruno said.

“Existing homeowners contribute significantly to the fabric of our communities. They maintain properties, invest in local businesses and foster community spirit, however, many financial challenges can threaten the ability to remain in their homes,” Mosquera-Bruno said.

The Home Improvement Program will provide low-interest loans for homeowners to make energy improvements and housing code repairs that make homes more energy efficient. This can include a new roof, septic or sewer system repairs and certain general home maintenance.

State Senator Doug McCrory hugs energy efficiency advocate Leticia Colon de Mejias during a press conference in a vacant lot in the North End of Hartford, where officials announced the launch of a series of housing programs with the aim of increasing homeownership across Connecticut on April 1, 2025. "There has not been a lot of investment in this community for a long time,” McCrory said.
Ryan Caron King
/
Connecticut Public
State Senator Doug McCrory hugs energy efficiency advocate Leticia Colon de Mejias during a press conference in a vacant lot in the North End of Hartford, where officials announced the launch of a series of housing programs with the aim of increasing homeownership across Connecticut on April 1, 2025. "There has not been a lot of investment in this community for a long time,” McCrory said.

Time to Own, a program administered by the Connecticut Housing Finance Authority, provides a forgivable loan to income qualifying families for an affordable home down payment. The rehabilitation program will allow these homeowners to afford necessary home repairs.

“By offering targeted financial support, we can help reduce the risk of foreclosure, ensure home repairs are made, and ultimately preserve property values,” Mosquera-Bruno said.

CT Home Funds has a third branch, which incentivizes small developers and nonprofits to construct affordable homes.

The Homeownership Construction Program will provide grants of up to $150,000 per home for smaller developers and nonprofits to help cover the costs of new construction or rehabilitation of up to ten affordable homes.

The $30 million investment will be spread among the three programs, with $2 million reserved for a Hartford pilot program aimed at increasing homeownership opportunities for Black and Brown residents.

“The gap in the household wealth between black and white families in this country has actually grown since the Civil Rights Act was passed. It is larger now than it was in 1965 and this is an investment in reversing that trend,” Hartford Mayor Arunan Arulampalam said.

Abigail is Connecticut Public's housing reporter, covering statewide housing developments and issues, with an emphasis on Fairfield County communities. She received her master's from Columbia University in 2020 and graduated from the University of Connecticut in 2019. Abigail previously covered statewide transportation and the city of Norwalk for Hearst Connecticut Media. She loves all things Disney and cats.

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