in East Haddam will get $20,078 to help support its new actor’s housing project, courtesy of Connecticut Light & Power.
CL&P announced this week that the company has purchased a total of $7.75 million in 2011 tax credits to support housing programs across the state through the Connecticut Housing Finance Authority's Housing Tax Credit Contribution program.
The tax credits Goodspeed Musicals is getting is related to geothermal heating and cooling systems installed in some 17 houses Goodspeed is building near its theater in East Haddam. The new homes will be used by the actors who travel and must stay here, sometimes for weeks, to take part in a production.
"These are shareholder dollars that go directly to organizations that need the money to fulfill their housing missions,” said CL&P President and Chief Operating Officer Jim Muntz. "We've been participating since 2002. Tax credits have become a significant asset for the development of low-income and supportive housing across the state."
“These programs are much more than simply cash for the credits," added Muntz. "They help strengthen communities, create jobs and drive economic growth and that helps everyone in Connecticut.”
The Housing Tax Credit Contribution tax credit purchases will help 27 organizations in 12 communities across the state. By participating in these tax credit programs, CL&P supports the development of affordable housing units, shelter for victims of domestic violence, energy efficient buildings and the rehabilitation of blighted industrial space.
"The generous support of CL&P through the Housing Tax Credit Contribution program is what has made HOPE's dramatic renovations possible," said Marilyn Graham, executive director of HOPE, Inc. in New London. "For instance, our work on Belden Street has not only helped to transform a blighted neighborhood, but it has also provided decent and affordable housing for dozens of families."
CL&P also announced today that it has purchased 2011 tax credits worth over $123,000 from eight organizations through the Department of Revenue Services' Neighborhood Assistance tax credit program. The money is going towards energy conservation measures.
“We are so grateful to CL&P for stepping up to the plate with this gift," said Sheryl Hack, executive director, Connecticut Landmarks. "It gets us one step closer to realizing our goal of completing Connecticut Landmarks’ green preservation project and returning the 1788 Amos Bull House – the first building in Connecticut to be listed on the National Register of Historic Places – and the 1865 Butler-McCook Carriage House into productive use on behalf of the city of Hartford and the residents of the Greater Hartford region.”
Other organizations that CL&P selected to get the tax credit purchases are:
- Bridgeport: Bridgeport Neighborhood Trust, Inc., $275,000; Community Capital Fund, $80,000; West Main Street, LLC/Habitat for Humanity of Coastal Fairfield Count, $500,000.
- Cornwall: Cornwall Housing Corporation $200,000.
- Fairfield: Church Housing of Fairfield, Inc. $154,814.
- Hartford: CIL Realty Corporation $467,489, Mutual Housing Association of Greater Hartford $133,200,
- Northside Institutions Neighborhood Alliance, Inc., $32,436.
- Middletown: Nehemiah Housing Corporation $426,412, Woman's Institute Realty of CT $55,000.
- New Haven: Columbus House $175,000, Continuum of Care, Inc. $244,000, Corp. for Urban Home Ownership of New Haven $168,000, F.O.H., Inc. $500,000, Housing Operations Management Enterprises $7,845, Mutual Housing Association of South Central CT $100,000, Neighborhood Housing Services of New Haven $350,000.
- New London: Habitat for Humanity of Southeastern CT, $200,000; HOPE, Inc. $225,000; New London Development Corporation, $290,000.
- Norwalk: Human Services Council $204,193.
- Old Saybrook: Old Saybrook Senior Housing, Inc., $499,999.
- Somers: Somers Housing Authority, $500,000.
- Stamford: Mutual Housing Association of Southwestern CT, $475,000; Rippowam Corp., $490,550;
- Workforce Housing Development Fund; $500,000.
- West Hartford: West Hartford Housing Corporation, $500,000.
- Hartford: CT Landmarks, $8,826; Hartford Area Habitat for Humanity, $13,238; Mercy Housing and Shelter Corporation, $8,826; Metro Hartford Alliance, $44,128; Open Hearth, $17,651.
- Manchester: St. James School $10,811.
- West Hartford: Northwest Catholic High School, $8,826.
Since 2002, CL&P has contributed $62 million to state housing organizations through Connecticut's tax credit programs.
