Why We Are Here
By Karl Kilduff
Thank you for your continued interest in CHFA. This edition of the quarterly newsletter marks the launch of a new series titled “How We Work”. “How We Work” builds off of a new focus on the organizational values of CHFA, specifically those dedicated to transparency and responsiveness.
However, it is not just about how CHFA works. I would like to highlight one of the reasons for why we work. We all focus on the details of financing a transaction, meeting program requirements or rating and ranking of an application. Not that these are not important, but the “why” in our work is the impact of our collective efforts, the impact of financing and tax credits, and the impact on the lives of the beneficiaries of our work.
Late in 2016 a ribbon cutting/ground breaking was held in Waterbury for Davis Gardens. Here 9% LIHTC, DOH funding and City support transformed a former co-op found to be unfit for human habitation by the city into quality housing. The event was a stark contrast with new construction behind the speakers and every speaker looking over the crowd to the original buildings.
The impacts and transformative effect of our shared work is why we work.
As I reported earlier, we are continuing our active engagement — most recently with a roundtable discussion with development consultants. Thanks to their input, CHFA will closely examine the documentation requirements for a 9% LIHTC application. As always, we appreciate your continued input and interest.
Karl Kilduff is the Executive Director of the Connecticut Housing Finance Authority.
