CT HB05132

Allows the Commissioner of Housing to enter into contracts with authorities, municipal developers, nonprofit corporations, or housing partnerships for state financial assistance for congregate housing projects in the form of capital grants, interim loans, permanent loans, deferred loans, or combinations thereof.

Permits conversion of state loans to capital grants or decreased loans if federal housing assistance funds terminate before loan repayment, and allows renegotiation of prior assistance contracts to provide loans in place of grants upon mutual consent.

Sets loan interest rates according to section 3-20(t) and allows operators approved by the Commissioner of Housing to manage congregate housing projects.

Authorizes the Commissioner of Housing to convert congregate housing programs to "housing projects" under section 8-113a if sufficient appropriations become unavailable.

Effective date: October 1, 2014.