Bill Text: CT HB05480 | 2016 | General Assembly | Comm Sub

Connecticut House Bill 5480 (Prior Session Legislation)

Bill Title: An Act Concerning The Establishment Of A Loan Fund To Remediate Blighted Properties.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2016-04-12 - Referred by House to Committee on Appropriations [HB05480 Detail]

Download: Connecticut-2016-HB05480-Comm_Sub.html

General Assembly		*Substitute Bill No. 5480*
*February Session, 2016*		_____HB05480PD____032116____

AN ACT CONCERNING THE ESTABLISHMENT OF A LOAN FUND TO REMEDIATE BLIGHTED PROPERTIES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective July 1, 2016) (a) For the fiscal years ending June 30, 2017, June 30, 2018, and June 30, 2019, the Secretary of the Office of Policy and Management shall establish a housing revitalization program in distressed municipalities, as defined in section 32-9p of the general statutes, and in municipalities directly eligible to receive a community development block grant pursuant to the provisions of 42 USC 5301 et seq. The purpose of the program shall be to provide to persons who own residential property within such municipalities loans for the purpose of making home repairs, including, but not limited to, installing siding or other exterior finishes, replacing windows and replacing or repairing furnaces and roofs. Any available funds for the program shall be divided equally among the eligible municipalities.

(b) The chief executive officer of each eligible municipality that participates in the housing revitalization program shall designate a municipal officer or employee to administer the program. Such administrator shall make such loans available to persons who own residential property in census tracts (1) in which twenty-five per cent or more of individuals or families have income below the poverty level, as determined by the most recent United States census, as officially updated by the appropriate state agency or institution, and (2) identified by the municipality as suitable for the program. Any such loan shall be repaid by means of a special assessment placed on the residential property.

(c) To receive a loan pursuant to the housing revitalization program, applicants shall submit an application to the administrator on a form approved by the secretary together with any documentation required by the administrator demonstrating that the applicant meets the eligibility criteria set forth in subsection (b) of this section.