Member News

Monday, July 20, 2020
CHEFA whiffs on $63M in tax credits for CT nonprofit developments

HARTFORD, CT -- Aquasi-public state agency that hoped to draw $63 million in federal tax credits to finance nonprofit development projects in low-income and distressed areas has struck out on its first attempt. The Connecticut Health and Educational Facilities Authority (CHEFA) was not on a list --  released by the U.S. Treasury last week -- of successful applicants for the so-called New Market Tax Credit program, created in 2003 to attract private investment for developments in poorer census tracts. CHEFA will try again when it submits an application later this year for the next round of credits, which will be awarded about a year from now.

Thursday, July 9, 2020
Summer Youth Learning and Employment Program to serve 1,500 of the Region’s Youth

HARTFORD, CT -- Capital Workforce Partners (CWP) is pleased to announce that the Summer Youth Employment and Learning Program (SYELP) will serve nearly 1,500 youth throughout North Central Connecticut at a time when youth and families are being disproportionately impacted by COVID-19 and high unemployment. The sources of SYELP funding include a $1 million commitment from the City of Hartford, $300,000 from the Hartford Foundation for Public Giving, $150,000 from the Travelers Foundation, $60,000 from the JP Morgan Chase Foundation, $15,000 from the Bank of America Foundation, and $34,500 from the Connecticut Health and Educational Facilities Authority (CHEFA). Funds from the State of CT Youth Employment Program, and the CT Department of Children and Families have also been committed.

Tuesday, July 7, 2020
The Partnership Loan Program for Minority- and Women-Owned Businesses in New Haven and the Lower Naugatuck Valley

NEW HAVEN, CT -- A new public-private partnership is offering low-interest and partially forgivable loans to local minority-owned and women-owned small businesses. The initial loan pool of $1.5 million will offer loans of up to $25,000 for small businesses located in New Haven and the lower Naugatuck Valley cities of Derby and Ansonia. The Partnership Loan Program for Minority- and Women-Owned Businesses in New Haven and the Lower Naugatuck Valley was created through a partnership among The Community Foundation for Greater New Haven, HEDCO, Inc., the Amour Propre Fund and The City of New Haven.

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