Connecticut Housing Finance Authority Awards Financial Services Contract to Hexagonal Development Llc (May 2026)

The CHFA Board approved a construction-to-permanent mortgage loan of up to $8.81 million to Hexagonal Development LLC for the 66‑unit 55 Kondracki Lane affordable housing project in Wallingford. The financing will be funded primarily with Housing Mortgage Finance Program bond proceeds and carries a 40‑year permanent term with 40‑year affordability restrictions.

Scope & details

The full contract record, as filed.

Contract amount

Not to exceed $8,810,300 (construction-to-permanent loan; converts to approximately $4,034,000 permanent loan)

Contract type

FINANCIAL_SERVICES

Contract term

Interest-only up to 10 months construction period followed by 40-year amortization/40-year term permanent period; prepayment allowed after 15 or 20 years with fees; affordability restrictions for 40 years

Renewal date

2066-02-28

Renewal

Loan must close by 2027-02-28 or the authorization lapses; CEO may grant extensions for good cause upon payment of applicable extension or other fees. Prepayment allowed after 15 years via CHFA refinance or after 20 years with housing program maintenance fee of 1% of outstanding principal.

Document type

Minutes

Source document

Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21

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Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21

APPROVED

Connecticut Department of Housing, ConnecticutConstruction-to-permanent loan not to exceed $8,810,300May 21, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Connecticut Housing Finance Authority?

Hexagonal Development Llc was awarded this financial services contract by Connecticut Housing Finance Authority, as recorded on May 21, 2026. The contract value is Not to exceed $8,810,300 (construction-to-permanent loan; converts to approximately $4,034,000 permanent loan).

How much is the Hexagonal Development Llc contract with Connecticut Housing Finance Authority worth?

The Hexagonal Development Llc contract with Connecticut Housing Finance Authority is valued at Not to exceed $8,810,300 (construction-to-permanent loan; converts to approximately $4,034,000 permanent loan), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21 (Minutes), dated May 21, 2026 from Connecticut Housing Finance Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Hexagonal Development Llc hold?

Hexagonal Development Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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