Three New London housing non-profits just received more than a million dollars in tax credits combined to invest in the city's housing.
The money went to HOPE, the New London Homeless Hospitality Center and Habitat for Humanity of Eastern Connecticut.
The Connecticut Housing Finance Authority chose the three non-profits. Eversource Energy bought the credits and handed out checks Tuesday morning.
The company is the leading purchaser of CHFA credits. They bought up $9.6 million to distribute to 28 non-profits throughout the state.
“We are committed to helping develop strong communities, and the work done by these non-profit organizations benefits the entire community,” the company wrote in a statement to NBC Connecticut.
HOPE received $500,000, the New London Homeless Hospitality Center received a little more than $397,000, and Habitat for Humanity of Eastern Connecticut was awarded $220,000.
HOPE purchases blighted homes and completely renovates or rebuilds them for low and moderate income families. The credit money will be used for similar projects, according to Marilyn Graham, executive director of HOPE.
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“We're putting these houses back on the tax roll. A lot of these houses were taken for back taxes, they were condemned by the city,” Graham said.
Elba Nieves-Navedo, of Puerto Rico, benefited from the program. She’s been in New London for more than a decade and was just able to purchase her first home from HOPE. She can house her parents and her 9-year-old son.
“The first thing is for my son because my son wants a house that he can do everything that kids do,” Nieves-Navedo said.
HOPE has renovated more than 20 houses, some with multiple units, on Belden Street in part, thanks to the tax credit program.
