Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21
$8.8M Loan Approved for Wallingford Housing Project
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Description
Connecticut Housing Finance Authority approved up to $8.81 million in construction-to-permanent mortgage financing for Hexagonal Development LLC for a 66-unit affordable housing project at 55 Kondracki Lane, Wallingford. The loan includes a 10-month interest-only construction period, followed by 40 years amortization, contingent upon various compliance and funding conditions.
Contract Details
Contract Amount
Construction-to-permanent loan not to exceed $8,810,300
Vendor
HEXAGONAL DEVELOPMENT LLC
Agency
Connecticut Department of Housing, CT
Contract Type
FINANCIAL_SERVICES
Document Date
May 21, 2026
Contract Term
Interest-only for up to 10 months, then amortized over 40 years, with key actions permissible at year 15 and 20; requirements to close by February 28, 2027
Renewal Date
2067-02-28
Renewal Info
Loan must close by February 28, 2027 unless extended for good cause; prepayment allowed on/after year 15 or year 20 with 1% fee.
Issuing Agency
Connecticut Department of Housing
Local Housing Authority
Hartford, CT
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Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21
Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21
Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21
Connecticut Housing Finance Authority Board of Directors Meeting Minutes 2026-05-21
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