Title 8 — Title 8: Zoning, Planning, Housing and Economic and Community Development

Sec. 8-241. Short title: Connecticut Housing Finance Authority Act. This chapter may be known and cited as the “Connecticut Housing Finance Authority Act”. (1969, P.A. 795, S. 1; June, 1972, P.A. 1, S. 9.) History: 1972 act changed name from Connecticut Mortgage Authority Act to …

Sec. 8-242. Declaration of policy. It is found and declared that there exists in the state and will exist in the future a serious shortage of housing for low and moderate income families and persons; that this shortage has contributed and will contribute to the persistence of slu…

Sec. 8-242a. Establishment of subsidiaries by authority. It is found and declared that the purposes of the Connecticut Housing Finance Authority may from time to time best be fulfilled by permitting the authority to create certain subsidiaries to own, operate and manage propertie…

Sec. 8-243. Definitions. The following terms shall have the following meanings unless the context clearly indicates another meaning and intent: (a) “Act” means this chapter as amended from time to time; (b) “Authority” means the Connecticut Housing Finance Authority as created un…

Sec. 8-244. Connecticut Housing Finance Authority deemed a public instrumentality and political subdivision. Board membership. Subsidiaries. (a) There is created a body politic and corporate to be known as the “Connecticut Housing Finance Authority”. Said authority is constituted…

Sec. 8-244a. Commissioner of Economic Development to be member of authority. Section 8-244a is repealed. (P.A. 77-614, S. 587, 593, 610; P.A. 78-303, S. 85, 136; P.A. 79-598, S. 25; 79-631, S. 109, 111.)

Sec. 8-244b. Establishment of State Housing Authority. (a) The Connecticut Housing Finance Authority shall establish a subsidiary to be known as the State Housing Authority. The SHA shall be the successor to the Connecticut Housing Authority. The powers of the SHA shall be vested…

Sec. 8-244c. State Housing Authority to be successor to Connecticut Housing Authority. Upon the establishment of the State Housing Authority and the filing of the certificate of incorporation therefor with the Secretary of the State, the SHA shall constitute the successor to the …

Sec. 8-244d. Bonds, notes or other obligations. All notes, bonds or other obligations issued by the Connecticut Housing Authority for the financing of any project or projects shall be in accordance with their terms of full force and effect and valid and binding upon the State Hou…

Sec. 8-244e. Definitions. Additional powers and duties of Commissioner of Housing. (a) As used in sections 8-244b to 8-244d, inclusive, and this section, the following terms shall have the following meanings unless the context clearly indicates another meaning and intent: (1) “De…

Sec. 8-245. State personnel may be board members of authority. Notwithstanding the provisions of any other law, no officer or employee of this state shall be deemed to have forfeited or shall forfeit his office or employment by reason of his acceptance of membership on the board …

Sec. 8-246. Executive director. Appointment and duties. The board of directors of the authority shall appoint an executive director who shall not be a member of the board and who shall serve at the pleasure of the board and receive such compensation as shall be fixed by the board…

Sec. 8-247. Bonds or equivalent insurance product of board members and executive director of authority. Each member of the board of directors of the authority shall execute a surety bond in the penal sum of fifty thousand dollars and the executive director shall execute a surety …

Sec. 8-248. Perpetual succession of authority. The authority shall have perpetual succession as constituted in section 8-244 and shall adopt procedures for the conduct of its affairs in accordance with the provisions of section 1-121, provided regulation-making proceedings commen…

Sec. 8-249. Quorum. Board action. Written procedures. (a) The powers of the authority shall be vested in and exercised by not less than five of the members of the board of directors then in office. Such number of members shall constitute a quorum and the affirmative vote of a maj…

Sec. 8-250. Purpose and powers of authority. The purpose of the authority shall be to alleviate the shortage of housing for low and moderate income families and persons in this state and, when appropriate, to promote or maintain the economic development of this state through empl…

Sec. 8-251. Purchase, servicing and sale of mortgages or interests therein. Urban area mortgages. Loans for mobile manufactured homes. (a) In order to provide additional construction and permanent financing for housing in this state, the authority is authorized to make commitment…

Sec. 8-252. Issuance of bonds by authority. (a) The authority is authorized from time to time to issue its bonds, bond anticipation notes and other obligations in such principal amounts as in the opinion of the authority shall be necessary to provide sufficient funds for carrying…

Sec. 8-252a. Issuance of bonds secured by payments and other revenues to be received by the state with respect to loans made by the state under bond-financed housing programs. (a) The Connecticut Housing Finance Authority is authorized to issue bonds secured by a pledge of princi…

Sec. 8-253. Mortgage loans and insurance of mortgage payments. (a) The authority may make mortgage loans or upon application of a proposed mortgagee insure and make advance commitments to insure payments required by a loan for housing upon such terms and conditions as the authori…

Sec. 8-253a. Additional loan conditions. In addition to the terms and conditions set forth in section 8-253, loans made by the authority hereunder shall also be subject to the following terms and conditions: (1) A loan hereunder may be prepaid after a period of twenty years or so…

Sec. 8-254. Applications for mortgage insurance. All applications for mortgage insurance shall be forwarded, together with an application fee prescribed by the authority, to the executive director of the authority. The authority shall cause an investigation of the proposed housin…

Sec. 8-254a. Tenant selection plans of mortgagors. Prior to making a commitment for a mortgage loan or mortgage insurance under this chapter, the authority shall approve a tenant selection plan submitted by the applicant mortgagor. The authority shall adopt and publish regulation…

Sec. 8-255. Mortgage insurance premiums. The authority shall fix mortgage insurance premiums for the insurance of mortgage payments under the provisions of this chapter. Such premiums shall be computed as a percentage of the principal of the mortgage outstanding at the beginning …

Sec. 8-256. Default by mortgagor and subsequent action. (a) In the event of default by the mortgagor, the mortgagee shall notify the authority both of the default and the mortgagee's proposed course of action. When it appears feasible, the authority may for a temporary period upo…

Sec. 8-257. Mortgages insured by authority to be legal investments. Certificate of title required. (a) Loans secured by mortgages the payments of which are insured by the authority shall be legal investments, for all trust companies, banks, investment companies, savings banks, bu…

Sec. 8-258. Housing Mortgage Capital Reserve Fund, additional capital reserve funds, Housing Mortgage General Fund and Housing Mortgage Insurance Fund. (a) The authority shall establish and maintain three funds: The Housing Mortgage Capital Reserve Fund, the Housing Mortgage Gene…

Sec. 8-259. State bonds. The State Bond Commission may authorize the issuance of bonds of the state in one or more series in accordance with section 3-20 and in principal amounts necessary to carry out the purposes of this chapter but not in excess of the aggregate amount of one …

Sec. 8-260. Reports to Governor and General Assembly. Audit. Within the first ninety days of each calendar year, the authority shall report on its operations for the preceding calendar year to the Governor. The authority shall make a report to the General Assembly on or before Ma…

Sec. 8-261. Pledge by state as to limitation or alteration of rights vested in authority. The state of Connecticut does hereby pledge to and agree with the holders of any obligations issued under this chapter, and with those parties who may enter into contracts with the authority…

Sec. 8-262. Interpretation of powers. The powers enumerated in this chapter shall be interpreted broadly to effectuate the purposes thereof and shall not be construed as a limitation of powers. (1969, P.A. 795, S. 22.)

Sec. 8-262a. Penalty for false statement. The Connecticut Housing Finance Authority may require any application or document submitted with respect to any program of, or program administered by, said authority to be signed under penalty of false statement as provided in section 53…

Sec. 8-263. Provisions controlling over inconsistent law. To the extent that the provisions of this chapter are inconsistent with the provisions of any general statute or special act or parts thereof, the provisions of this chapter shall be deemed controlling. (1969, P.A. 795, S.…

Secs. 8-264 and 8-265. Purchase of or loans on mortgages insured by state agencies. Bond issue. Sections 8-264 and 8-265 are repealed. (1971, P.A. 840, S. 4, 5; June, 1971, P.A. 1, S. 2, 3; 1972, P.A. 208, S. 14.)

Sec. 8-265a. Land of authority subject to local regulation. All land and improvements owned by the authority or in which the authority has an interest through a mortgage held or insured by it shall be subject to the planning, zoning, health and building laws, ordinances and regul…

Sec. 8-265b. Tax-exempt status of authority. Payment in lieu of taxes. The real and personal property of the authority, and its income and operations, shall be exempt from taxation by the state and any political subdivision thereof, except that the authority shall make payments i…

Sec. 8-265bb. Contract for state assistance to authority. (a) For purposes of this section “state assistance” means a payment by the state of actual debt service, comprised of principal, interest, interest rate swap payments, liquidity fees, letter of credit fees, trustee fees an…

Sec. 8-265c. Discrimination re housing financed by authority barred. The authority shall require that occupancy of all housing financed or otherwise assisted under this chapter be open to all persons regardless of race, creed, color, national origin or ancestry, sex, gender ident…

Sec. 8-265cc. Definitions. As used in this section and sections 8-265dd to 8-265kk, inclusive: (1) “Aggregate family income” means the total income of adult persons residing in the same household as the homeowner and any other adult resident of the household, from whatever source…

Sec. 8-265d. Mortgage assistance for households with incomes below eighty per cent of the area median income. Section 8-265d is repealed, effective October 1, 2002. (P.A. 90-257, S. 9, 17; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6; S.A. 02-12, S. 1.)

Sec. 8-265dd. Emergency mortgage assistance payment program. Emergency lien assistance payments. Foreclosure of eligible mortgage. (a) Not later than January 1, 1994, the authority shall establish, within available funds, a program to provide emergency mortgage assistance payment…

Sec. 8-265e. Annual study of current market rent levels. Section 8-265e is repealed, effective July 1, 1995. (P.A. 90-257, S. 16, 17; P.A. 95-250, S. 41, 42; 95-309, S. 10–12.)

Sec. 8-265ee. Notice to homeowner of foreclosure. Meeting or conference with mortgagee or consumer credit counseling agency. (a) On and after July 1, 2008, a mortgagee who desires to foreclose upon a mortgage which satisfies the standards contained in subdivisions (1), (9), (10) …

Sec. 8-265f. Program for use of interest earned on real estate broker escrow or trust accounts for mortgage assistance. (a) A program for the use of interest earned on real estate broker escrow or trust accounts is hereby established. Each real estate broker having an escrow or t…

Sec. 8-265ff. Eligibility for emergency mortgage or lien assistance payments. Application for loan. Disclosure of assets by homeowner. Determination of eligibility by the authority. (a)(1) Any homeowner who is a mortgagor may apply for emergency mortgage assistance payments under…

Sec. 8-265g. Mortgage assistance for low or moderate income families or persons. (a) The Connecticut Housing Finance Authority, in consultation with the advisory panel established under section 8-265h, shall develop and administer a program of mortgage assistance to low or modera…

Sec. 8-265gg. Monthly payments by authority and homeowner. Periodic review of financial circumstances. Modification to amount of payment. Emergency lien assistance payments by authority. Foreclosure of lien. (a) If the authority approves a homeowner for mortgage assistance under …

Sec. 8-265h. Housing advisory panel. (a) An advisory panel shall be established to perform the functions described in subsection (b) of this section consisting of eight members to be selected as follows: Two members shall be appointed by the Governor, one of whom shall be an exec…

Sec. 8-265hh. Repayment agreement. (a) Upon approval of emergency mortgage or lien assistance payments, the authority shall enter into an agreement with the homeowner for repayment of all such assistance with any interest as provided in this section. The agreement shall provide f…

Sec. 8-265i. Reverse annuity mortgage program. (a) The Connecticut Housing Finance Authority shall implement a program under which reverse annuity mortgages may be issued to homeowners seventy years of age or older in need of long-term care to remain in their homes and to avoid e…