CT HB05480

Establishes a housing revitalization program in distressed municipalities and those directly eligible for federal community development block grants for fiscal years 2017, 2019, and 2019.

Provides loans to residential property owners for home repairs including siding, windows, furnaces, and roofs, with available funds divided equally among eligible municipalities.

Requires loans to be made only in census tracts where 25 percent or more of individuals or families live below the poverty level and in areas identified by the municipality as suitable for the program.

Repayment of loans shall be through a special assessment placed on the residential property.

Effective July 1, 2016.