More than $16 million in state financing has been earmarked to renovate the 55-year-old Northside Terraces apartment complex at 4 Terrace Drive. Northside Terraces LLC will get $4 million in state Department of Housing financing, $12.08 million in Connecticut Housing Finance Authority financing and 4% in low-income housing tax credits that will attract approximately $8.3 million in equity proceeds, according to a release from the two state agencies issued Thursday. The work includes significant remediation, Anderson said. Similar to other buildings constructed in the late 1960s, Northside Terrace has a number of environmental issues, including polychlorinated biphenyls. The owner is working with the EPA to do the PCB abatement, she said.
