Conn. Gen. Stat. § 8-241
Short title: Connecticut Housing Finance Authority Act
This chapter may be known and cited as the “Connecticut Housing Finance Authority Act”.
General Statutes of Connecticut Chapter 134 — Connecticut Housing Finance Authority Act
Connecticut · statute · Conn. Gen. Stat. ch. 134 · 81 active provisions
Conn. Gen. Stat. § 8-242
Declaration of policy
It is found and declared that there exists in the state and will exist in the future a serious shortage of housing for low and moderate income families and persons; that this shortage has contributed and will contribute to the persistence of slums and blight and will tend to perpetuate the concentration of families and…
Conn. Gen. Stat. § 8-242a
Establishment of subsidiaries by authority
It is found and declared that the purposes of the Connecticut Housing Finance Authority may from time to time best be fulfilled by permitting the authority to create certain subsidiaries to own, operate and manage properties providing housing for low and moderate income families and persons and to otherwise obtain fina…
Conn. Gen. Stat. § 8-243
Definitions
The following terms shall have the following meanings unless the context clearly indicates another meaning and intent: (a) “Act” means this chapter as amended from time to time; (b) “Authority” means the Connecticut Housing Finance Authority as created under section 8-244; (c) “Housing”, “housing project” or “project”…
Conn. Gen. Stat. § 8-244
Connecticut Housing Finance Authority deemed a public instrumentality and political subdivision. Board membership. Subsidiaries
(a) There is created a body politic and corporate to be known as the “Connecticut Housing Finance Authority”. Said authority is constituted a public instrumentality and political subdivision of this state and the exercise by the authority of the powers conferred by this chapter shall be deemed and held to be the perfor…
Conn. Gen. Stat. § 8-265aaa
Definitions
As used in this section and sections 8-265bbb to 8-265fff, inclusive: (1) “Authority” means the Connecticut Housing Finance Authority created under section 8-244; (2) “Bank” means a bank or an out-of-state bank, each as defined in section 36a-2; (3) “Credit union” means a Connecticut credit union or a federal credit un…
Conn. Gen. Stat. § 8-265bbb
“Homes for CT” loan program
(a) The authority shall administer a “Homes for CT” loan program to assist eligible borrowers to obtain funding necessary for the construction of residential buildings by guaranteeing the repayment of loans made by eligible financial institutions to eligible borrowers, which loans (1) may have loan-to-value ratios in e…
Conn. Gen. Stat. § 8-265ccc
Loans by eligible financial institution to eligible borrower under “Homes for CT” loan program
Each eligible financial institution that participates in the program administered by the authority pursuant to subsection (a) of section 8-265bbb may make loans to an eligible borrower under the program, provided: (1) The eligible borrower (A) demonstrates to the satisfaction of the eligible financial institution that…
Conn. Gen. Stat. § 8-265ddd
Claims by eligible financial institution to authority for recovery of outstanding principal for loan. Maintenance of records. Termination of loan guarantee, when
(a) An eligible financial institution that has made a good faith effort to collect the outstanding principal from a loan made pursuant to section 8-265ccc may make a claim to the authority for recovery of an amount equal to the outstanding principal for such loan. Except as provided in subsection (d) of this section, i…
Conn. Gen. Stat. § 8-265eee
Additional loans to eligible borrowers by authority
Under the program administered by the authority pursuant to subsection (a) of section 8-265bbb, the authority may, within available resources, make loans to eligible borrowers that are in addition to the loans made to such eligible borrowers by eligible financial institutions pursuant to section 8-265ccc. The loans mad…
Conn. Gen. Stat. § 8-265fff
Memorandum of understanding re “Homes for CT” loan program
The Comptroller, the authority and the department may enter into a memorandum of understanding to carry out the provisions of sections 8-265aaa to 8-265eee, inclusive.
Conn. Gen. Stat. § 8-244a
Commissioner of Economic Development to be member of authority
Section 8-244a is repealed.
Conn. Gen. Stat. § 8-244b
Establishment of State Housing Authority
(a) The Connecticut Housing Finance Authority shall establish a subsidiary to be known as the State Housing Authority. The SHA shall be the successor to the Connecticut Housing Authority. The powers of the SHA shall be vested in and exercised by a board of directors, which shall consist of three members to be appointed…
Conn. Gen. Stat. § 8-244c
State Housing Authority to be successor to Connecticut Housing Authority
Upon the establishment of the State Housing Authority and the filing of the certificate of incorporation therefor with the Secretary of the State, the SHA shall constitute the successor to the Connecticut Housing Authority. The terms of the present members of the board of directors of the Connecticut Housing Authority…
Conn. Gen. Stat. § 8-244d
Bonds, notes or other obligations
All notes, bonds or other obligations issued by the Connecticut Housing Authority for the financing of any project or projects shall be in accordance with their terms of full force and effect and valid and binding upon the State Housing Authority as the successor to the Connecticut Housing Authority and with respect to…
Conn. Gen. Stat. § 8-244e
Definitions. Additional powers and duties of Commissioner of Housing
(a) As used in sections 8-244b to 8-244d, inclusive, and this section, the following terms shall have the following meanings unless the context clearly indicates another meaning and intent: (1) “Department” means the Department of Housing; (2) “Commissioner” means the Commissioner of Housing; (3) “CHFA” means the Conne…
Conn. Gen. Stat. § 8-245
State personnel may be board members of authority
Notwithstanding the provisions of any other law, no officer or employee of this state shall be deemed to have forfeited or shall forfeit his office or employment by reason of his acceptance of membership on the board of directors of the authority or his service thereon.
Conn. Gen. Stat. § 8-246
Executive director. Appointment and duties
The board of directors of the authority shall appoint an executive director who shall not be a member of the board and who shall serve at the pleasure of the board and receive such compensation as shall be fixed by the board. He shall be the chief administrative officer of the authority and shall direct and supervise a…
Conn. Gen. Stat. § 8-247
Bonds or equivalent insurance product of board members and executive director of authority
Each member of the board of directors of the authority shall execute a surety bond in the penal sum of fifty thousand dollars and the executive director shall execute a surety bond in the penal sum of one hundred thousand dollars, or, in lieu thereof, the chairperson of the board shall execute a blanket position bond o…
Conn. Gen. Stat. § 8-248
Perpetual succession of authority
The authority shall have perpetual succession as constituted in section 8-244 and shall adopt procedures for the conduct of its affairs in accordance with the provisions of section 1-121, provided regulation-making proceedings commenced before January 1, 1989, shall be governed by chapter 54. Such succession shall cont…
Conn. Gen. Stat. § 8-249
Quorum. Board action. Written procedures
(a) The powers of the authority shall be vested in and exercised by not less than five of the members of the board of directors then in office. Such number of members shall constitute a quorum and the affirmative vote of a majority of the members present at a meeting of the board shall be necessary for any action taken…
Conn. Gen. Stat. § 8-250
Purpose and powers of authority
The purpose of the authority shall be to alleviate the shortage of housing for low and moderate income families and persons in this state and, when appropriate, to promote or maintain the economic development of this state through employer-assisted housing efforts and for such purposes the authority shall have the foll…
Conn. Gen. Stat. § 8-251
Purchase, servicing and sale of mortgages or interests therein. Urban area mortgages. Loans for mobile manufactured homes
(a) In order to provide additional construction and permanent financing for housing in this state, the authority is authorized to make commitments to purchase, and to purchase, service and sell mortgages and to make loans directly upon the security of any mortgage, and to make commitments to purchase, and to purchase a…
Conn. Gen. Stat. § 8-252
Issuance of bonds by authority
(a) The authority is authorized from time to time to issue its bonds, bond anticipation notes and other obligations in such principal amounts as in the opinion of the authority shall be necessary to provide sufficient funds for carrying out the purposes set forth in subsections (32) and (33) of section 8-250 and sectio…
Conn. Gen. Stat. § 8-252a
Issuance of bonds secured by payments and other revenues to be received by the state with respect to loans made by the state under bond-financed housing programs
(a) The Connecticut Housing Finance Authority is authorized to issue bonds secured by a pledge of principal and interest payments and other revenues to be received by the state with respect to any loans made by the state under any bond-financed housing program, as defined in section 8-37qq. Except as otherwise provided…
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