CT Tax Credits Support Affordable Housing
The program provides credit vouchers for businesses that make contributions to housing programs that are developed, sponsored, or managed by nonprofit corporations that benefit very low- and low- to moderate-income families.
It offers an opportunity for hvac contractors, wholesalers, and manufacturers to make donations that can raise their community image and help the needy. While other contributors have included utility companies and other large corporations, companies such as Hartford Steam Boiler have recently invested in the Mutual Housing development, specifically the Park Terrace II project in Hartford.
For example, Housing Opportunities for People, Inc. (HOPE), Mystic, CT, will use $87,500 for the renovation of a New London, CT, duplex that will be sold to a family whose income is 80% below the median income for the area. In addition to the removal of lead-based paint and asbestos siding, a third bedroom, a dining room, and a sunroom will be added to each side of the duplex.
According to HOPE executive director Marilyn Graham, the project actually benefits two families.
For more information, contact the Mutual Housing Association of Greater Hartford, Inc., 864 Wethersfield Ave., Hartford, CT 06114; 860-296-1797; 860-947-3254 (fax).
Publication date: 06/25/2001