Two Low-Income Housing Programs Earn Tax Credits

Connecticut Light & Power has purchased $7.75 million in 2011 tax credits to support housing programs across the state through the Connecticut Housing Finance Authority's Housing Tax Credit Contribution program.

In Middletown, the Nehemiah Housing Corporation received $426,412 and the Woman's Institute Realty of Connecticut, 62 Washington Street, received $55,000 in housing credit.

"These are shareholder dollars that go directly to organizations that need the money to fulfill their housing missions,” said CL&P President and Chief Operating Officer Jim Muntz. "We've been participating since 2002. Tax credits have become a significant asset for the development of low-income and supportive housing across the state."

“These programs are much more than simply cash for the credits," added Muntz. "They help strengthen communities, create jobs and drive economic growth and that helps everyone in Connecticut.”  

The Housing Tax Credit Contribution tax credit purchases will help 27 organizations in 12 communities across the state. By participating in these tax credit programs, CL&P supports the development of affordable housing units, shelter for victims of domestic violence, energy efficient buildings and the rehabilitation of blighted industrial space.  

Nehemiah Housing develops and operates a range of housing options for families and individuals who are unable to find quality affordable housing.  

The Women’s Institute creates affordable housing that supports low-income individuals and families with a mission to build affordable housing that fosters economic security for low-income women and families. Work includes direct development of affordable properties, project management consultant services, and comprehensive training, technical assistance, and planning services to non-profit organizations, community groups and public agencies.