In April, New London Housing Authority Executive Director Norbert Deslauriers learned that his application for more than $1 million in federal housing tax credits wasn’t approved. Deslauriers had hoped to auction those credits, awarded annually by Connecticut Housing Finance Authority (CHFA), to investors in exchange for millions of more dollars in equity financing. That money would have kick-started a massive $30 million demolition and rebuilding project at the Gordon Court elderly and disabled housing neighborhood run by the housing authority. Undeterred by the rejection, Deslauriers within a week filed another application. The new submission, this time for roughly $1.7 million in credits, was made through a less competitive CHFA funding program — one that also offers fewer equity options — whose awards are expected to be announced soon.
https://theday.com/news/763640/new-london-housing-authority-continues-effort-to-fund-30m-gordon-court-replacement/