CL&P Purchases Tax Credits To Help Finance Housing Projects

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The Corporation for Independent Living is developing this low- and moderate-income housing project on Popieluszko Court in Hartford. CIL is one organization that will benefit from CL&P tax credit purchase. Photo by Kenneth R. Gosselin/The Hartford Courant.

Connecticut Light & Power Co. purchased nearly $8 million in tax credits that will help finance housing and energy conservation projects across the state.

The largest share — $7.75 million — will fund housing projects funded through the Connecticut Housing Finance Authority’s Housing Tax Credit Contribution program. The purchases will support 27 organizations in 12 communities and projects, including low- and moderate-income housing, energy efficient buildings, shelter for victims of domestic abuse and redevelopment of blighted industrial space.

CL&P began purchasing tax credits in 2002; the purchases now total $62 million.

In Hartford, the organizations include CIL Realty Corp., $467,489; Mutual Housing Association of Greater Hartford, $133,200; Northside Institutions Neighborhood Alliance, Inc., $32,436.

A complete list of organizations can be found here.

In addition, CL&P has purchased $123,000 worth of tax credits for energy conservation through the state Department of Revenue Services’ Neighborhood Assistance tax credit program.

 

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