FINANCIAL_SERVICESAPPROVED

Connecticut Housing Finance Authority Minutes 2026-04-23

CHFA Approves Financing for The Warner in Woodbridge

Up to $2,300,000 (Permanent Loan) and up to $1,000,000 (Additional Loan)Connecticut Housing Finance AuthorityNEW SAMARITAN CORPORATIONApril 23, 2026

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Description

CHFA approved up to $3.3 million in mortgage financing to New Samaritan Corporation for acquisition and rehabilitation of The Warner elderly housing project in Woodbridge. The package includes a $2.3 million permanent first mortgage and a $1 million additional loan with long-term affordability covenants.

Contract Details

Contract Amount

Up to $2,300,000 (Permanent Loan) and up to $1,000,000 (Additional Loan)

Vendor

NEW SAMARITAN CORPORATION

Agency

Connecticut Housing Finance Authority, CT

Contract Type

FINANCIAL_SERVICES

Document Date

April 23, 2026

Contract Term

Permanent Loan: 35-year term, 40-year amortization; Additional Loan: term coterminous with Permanent Loan

Renewal Date

2027-01-31

Renewal Info

Financing authorization expires if closing does not occur by January 31, 2027, though the CEO may grant extensions for good cause upon payment of fees. Affordability restrictions are required for 35 years.