On May 29, Liberty Bank was proud to sponsor a special forum targeting members of the Home Builders Association of Connecticut. Presented by the Affordable Housing Committee of the Middlesex County Chamber of Commerce (of which we are a member), the forum had a goal of showcasing how for-profit developers can leverage state and other resources to make the creation of affordable housing economically feasible for them.
Presenters Nick Lundgren from the state Department of Housing, Dara Kovel from the Connecticut Housing Finance Authority, and Christine Rogers of the Federal Home Loan Bank of Boston described grant and financing options designed to promote the inclusion of affordable housing in developments. In addition, Dawn Parker from The Connection, Inc., offered insights on how for-profit builders can partner with nonprofits to make affordable and supportive housing a part of their plans. Many of the for-profit developers who attended had been unaware of the options available to them, and indicated a willingness to explore the possibility of including affordable housing in their future projects. We’ll keep you posted on how that progresses!