§ 8-286e — Affordability incentive zones.

The Connecticut Housing Finance Authority may establish affordability incentive zones under the homeownership loan program established pursuant to sections 8-283 to 8-289, inclusive, to incentivize the purchase of dwellings situated in municipalities not exempt from the affordable housing appeals procedure under subsection (k) of section 8-30g. The authority may expand access to the program in such zones by utilizing lending guidelines that are different from the guidelines for the purchase of a dwelling not situated in such zones, which may include increasing eligibility limits with respect to the purchase price of the dwelling or the maximum loan amount, or by reducing the rate of interest of the loan. If the authority establishes an affordability incentive zone under this section, any municipality that is not (1) exempt from the affordable housing appeals procedure under subsection (k) of section 8-30g, and (2) designated as an affordability incentive zone may make a request to the authority, in writing, to be considered an affordability incentive zone. The authority may, in its discretion, grant such requests after considering available funding for the program.

Legislative History

(P.A. 21-101, S. 2.) History: P.A. 21-101 effective June 30, 2021.