(a) The legislative body of any municipality or part thereof designated as a participating municipality by the Connecticut Housing Finance Authority, for purposes of the Urban Rehabilitation Homeownership Program, may, by ordinance, authorize such municipality to enter into a written agreement with any owner of any real property located in such municipality or eligible part thereof who agrees to rehabilitate such real property with assistance provided by the Connecticut Housing Finance Authority under said program. Such agreement shall provide that any increase in assessment attributable to such rehabilitation shall be deferred for a period of five years from the date such rehabilitation is completed.
(b) Any such assessment increase deferral agreement shall provide for (1) the completion of such rehabilitation by a date fixed, (2) the inspection and certification by the local building official that the completed rehabilitation is in conformance with such provisions of the state building and health codes and the local housing code as may apply, and (3) the continued residence of the applicant in such property during the period of said deferral. Said agreement shall further provide that, in the event of a general revaluation by the municipality in the year in which such rehabilitation is completed resulting in any increase in the assessment of such property, only that portion of the increase resulting from such rehabilitation shall be deferred; and in the event of a general revaluation in any year after the year in which such rehabilitation is completed, such deferred assessment shall be increased or decreased in proportion to the increase or decrease in the total assessment on such property as a result of such general revaluation.
(June Sp. Sess. P.A. 01-9, S. 81, 131.)
History: June Sp. Sess. P.A. 01-9 effective July 1, 2001.
Structure Connecticut General Statutes
Title 8 - Zoning, Planning, Housing and Economic and Community Development
Chapter 134 - Connecticut Housing Finance Authority Act
Section 8-241. - Short title: Connecticut Housing Finance Authority Act.
Section 8-242. - Declaration of policy.
Section 8-242a. - Establishment of subsidiaries by authority.
Section 8-244a. - Commissioner of Economic Development to be member of authority.
Section 8-244b. - Establishment of State Housing Authority.
Section 8-244c. - State Housing Authority to be successor to Connecticut Housing Authority.
Section 8-244d. - Bonds, notes or other obligations.
Section 8-244e. - Definitions. Additional powers and duties of Commissioner of Housing.
Section 8-245. - State personnel may be board members of authority.
Section 8-246. - Executive director. Appointment and duties.
Section 8-248. - Perpetual succession of authority.
Section 8-249. - Quorum. Board action. Written procedures.
Section 8-250. - Purpose and powers of authority.
Section 8-252. - Issuance of bonds by authority.
Section 8-253. - Mortgage loans and insurance of mortgage payments.
Section 8-253a. - Additional loan conditions.
Section 8-254. - Applications for mortgage insurance.
Section 8-254a. - Tenant selection plans of mortgagors.
Section 8-255. - Mortgage insurance premiums.
Section 8-256. - Default by mortgagor and subsequent action.
Section 8-260. - Reports to Governor and General Assembly. Audit.
Section 8-261. - Pledge by state as to limitation or alteration of rights vested in authority.
Section 8-262. - Interpretation of powers.
Section 8-262a. - Penalty for false statement.
Section 8-263. - Provisions controlling over inconsistent law.
Section 8-264 and 8-265. - Purchase of or loans on mortgages insured by state agencies. Bond issue.
Section 8-265a. - Land of authority subject to local regulation.
Section 8-265b. - Tax-exempt status of authority. Payment in lieu of taxes.
Section 8-265bb. - Contract for state assistance to authority.
Section 8-265cc. - Definitions.
Section 8-265e. - Annual study of current market rent levels.
Section 8-265g. - Mortgage assistance for low or moderate income families or persons.
Section 8-265h. - Housing advisory panel.
Section 8-265hh. - Repayment agreement.
Section 8-265i. - Reverse annuity mortgage program.
Section 8-265ii. - Adoption of procedures.
Section 8-265jj. - Filing of notice of agreement to participate in program with the authority.
Section 8-265mm. - Pilot program of home purchasing assistance for police officers.
Section 8-265o. - Definitions.
Section 8-265oo. - Residential mortgage loan refinancing guarantee program.
Section 8-265p. - Residential mortgage refinancing guarantee program.
Section 8-265pp. - Mortgage assistance program for certain teachers.
Section 8-265q. - Mortgagee participation.
Section 8-265qq. - Assessment increase deferred for rehabilitated properties.
Section 8-265r. - Eligibility of loans.
Section 8-265rr. - Mortgage refinancing program for homeowners with adjustable rate mortgages.
Section 8-265ss. - Homeowner's Equity Recovery Opportunity loan program.
Section 8-265t. - Points. Annual premium.
Section 8-265tt. - Definitions.
Section 8-265u. - Termination of loan guarantee.
Section 8-265v. - Written procedures.