Marilyn Moore

Senator Moore Secures Funding for Four Separate Housing Funds to Help Families in Connecticut

Today, state Senator Marilyn Moore (D-Bridgeport), Senate Chair of the Housing Committee and Chair of the Bonding Subcommittee, led Senate passage to secure $400 million in 2024 and another $400 million in 2025 for four separate housing funds to help families in Connecticut.

Senator Moore worked alongside Governor Lamont to secure this funding in the bonding package. This $800 million will address Connecticut’s need for affordable housing, support first-time home buyers with down payment assistance, promote homeownership for low-to-moderate income families, and improve living conditions at large apartments.

“Low-income families are feeling immense economic pressure as housing costs and rents continue to rise,” said Sen. Moore. “With this funding set to be placed on the agenda, I am hopeful we will be able to alleviate the lack of affordable housing and provide assistance to those looking to buy a new home. I am thankful to Governor Lamont for the dedication and time he took to prioritize housing and improving living conditions for residents in our state.”

“Building more housing is a priority for our administration, and these significantly increased investments will enable us to grow our housing supply while also providing a pathway to help first-time homeowners,” said Governor Lamont. “I thank Senator Moore and the legislature for partnering with our administration on these efforts.”

$200 million is being set aside for the flexible home fund. The Affordable Housing Program known as Flex is the Department of Housing’s (DOH) primary housing production program and is frequently referred to as the “flexible” housing program. It provides quality, affordable housing for Connecticut residents, promotes and supports homeownership and mixed income developments, and assists in the revitalization of urban and rural centers.

Addressing the state’s housing challenges has been at the focal point of this legislative session. According to the National Low Income Housing Coalition (NLIHC), our state has a sizeable shortage of affordable housing units and a large portion of residents’ income are going towards housing, making it difficult for them to afford other necessities. Funding the Flex program allows applicants the assistance they may need when owning a home.

$400 million is being allocated to the Housing Trust Fund. The Housing Trust Fund Program provides gap financing, grants, loan guarantees, low-and no-interest loans, and funding for the Connecticut Individual Development Account housing program. The program encourages the creation of homeownership housing for low-and moderate-income families, promotes the rehabilitation, preservation and production of rental housing and the development of housing which aids the revitalization of communities.

$150 million will be given toward the Time To Own – Forgivable Down Payment Assistance Program. This program helps to alleviate potential homebuyers’ inability to cover the down payment and closing cots required to purchase their first home. This program, launched in June of 2022, allows families a greater choice when searching for a home that will give their family the potential to thrive in their community.

And $50 million will be given toward receivership fund. Connecticut’s Housing Receivership Fund aims to improve housing conditions at large apartments in the state.