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Brookfield, New Milford affordable housing projects to receive state bond loans

Nearly 78 million dollars in state bond funding is being proposed across the state to help towns and cities with affordable housing projects.  When the state Bond Commission meets on Friday, the group is being asked to approve a $4.5 million loan to Brookfield Village, LLC. 

 

A 48 unit affordable housing mixed-use project is in development in Brookfield.  The loan will be provided at one percent for forty-two years with payments deferred for thirty years. 

 

A nearly $2 million loan to New Milford Affordable Housing, Incorporated is also on the agenda.  Construction of 12 affordable housing units with supportive services at Brookside Commons is proposed. 

 

The loan will be provided at zero percent for thirty years with payment due at maturity.

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Dave Rinelli

Local Headlines