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News Feb 1, 2013 - 6:13:51 AM

Santa Energy energizes affordable housing development with a $150,000 contribution

By The Greater New Haven Community Loan Fund

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New Haven, CT - The Greater New Haven Community Loan Fund received $150,000 from Santa Energy Corporation to support GNHCLF’s Workforce Housing Program, a program focused on facilitating and funding the creation of affordable and stable housing for individuals and families who live and work in the City of New Haven.

“Santa Energy is committed to the prosperity of Connecticut’s citizens especially in our cities. We are grateful to be in a position that allows us to help the New Haven Community where many of our customers are located,” said Thomas Santa, President and CEO of Santa Energy Corporation.

Santa Energy’s $150,000 contribution will aid in the creation of as many as 30 housing units for New Haven workers earning less than 100% Area Median Income, (AMI). GNHCLF has dedicated 60% of the funds to serve households earning less than 80% AMI, ($65,000 for a family of four).

Santa Energy Corporation made the contribution through the State Housing Tax Credit Contribution Program (HTCC) a program managed by the Connecticut Housing Finance Authority, (CHFA). “The HTCC program offers Connecticut businesses an opportunity to contribute to the expansion of affordable housing in their communities by donating to non-profit developers building affordable homes. In return for the donation, businesses receive credits to apply toward state taxes,” said Eric Chatman, Executive Director of CHFA. “This program has resulted in the creation of more than 4,100 affordable homes in the last 5 years.”

“The 2010 US Census revealed that the City of New Haven experienced a 5% increase in its population, the largest growth rate of any Connecticut city. If New Haven is to continue attracting new growth in the economic sector, it needs to offer accompanying quality and affordable housing options to the workforce. Santa Energy’s generous contribution will help us contribute to that growth,” said GNHCLF Executive Director Carla Weil.

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