CHFA Awards $9.7 Million in Tax Credits to Boost Affordable Housing Across Connecticut

(ROCKY HILL, Conn) – October 3, 2025. The Connecticut Housing Finance Authority (CHFA) is proud to announce the 2025 awardees of the Connecticut Housing Tax Credit Contribution (HTCC) Program, designed to expand housing opportunities for low- and moderate-income individuals and families across the state. This year, CHFA has allocated $9.7 million in tax credits to 20 nonprofit organizations providing vital resources to create, renovate, and sustain affordable housing across the state.

Established in 1987, the HTCC program encourages businesses to invest in the creation and preservation of affordable housing by offering state tax credits to apply to their corporate taxes. These investments support non-profit housing programs that benefit Connecticut residents in need of affordable rental and homeownership opportunities. The 2025 HTCC awardees will develop or rehabilitate homes throughout the state, helping to meet a critical demand for affordable housing.

“Year after year, the HTCC program demonstrates the power of public-private partnerships in delivering affordable housing solutions,” said Nandini Natarajan, CEO and Executive Director of CHFA. “These credits play a vital role in the State’s toolkit of housing resources. From financing new construction to preserving existing homes, HTCC investments are helping us meet the diverse needs of communities across the state and ensuring residents have access to safe, stable, and affordable homes.”

Key Highlights of the 2025 HTCC Awards:

• $9.7 million in tax credits have been allocated to 20 nonprofit developers in 14 towns, including Bridgeport, Enfield, Hamden, Hartford, Middletown, New Haven, New London, New Preston, North Stonington, Norwalk, Norwich, Old Saybrook, Stamford, and Waterbury.
• Funding is expected to impact and support the creation or improvement of 497 units.
• Four awardees will create new affordable housing units, while eight will focus on rehabilitating existing properties. Six awardees will utilize the proceeds to create and/or rehabilitate properties for homeownership opportunities.
• Two awardees will capitalize revolving loan funds to provide down payment and closing cost assistance, and low-cost loans for the construction, repair or rehabilitation of housing for the benefit of low- and moderate-income individuals and families.
• The Open Doors Shelter, Columbus House, The Connection Fund, and St. Vincent de Paul Middletown will utilize Supportive Housing Set-Aside funds to develop new units for individuals experiencing homelessness.
• Housing Development Fund, Inc. will continue providing down payment and closing cost assistance through Workforce Housing Set-Aside funding.

Supplemental Round Announced

CHFA is also opening a supplemental HTCC funding round to deploy $1.3 million in remaining and returned credits. Applications are due November 17, 2025. The supplemental round is expected to fund at least three additional projects, further extending the impact of the program. The Notice of Funding Availability (NOFA) is available here.

Eversource, the principal investor in HTCC credits, is once again expected to purchase the full allocation of tax credits, ensuring that these vital housing projects move forward. “Eversource is proud to continue supporting CHFA’s Housing Tax Credit Contribution program,” said Timothy Waldron, Community Relations and Economic Development Senior Specialist with Eversource. “We’ve partnered with nonprofit developers and communities through this program for many years, and it has been gratifying to see the positive impact across our state. We look forward to building on that history as CHFA advances the 2025 awards.”

For more information about the HTCC Program and a full list of the 2025 awardees, visit https://www.chfa.org/developers/tax-credit-program/htcc/.