Conn. Gen. Stat. § 8-68j
This is the official text of Conn. Gen. Stat. § 8-68j, part of Connecticut’s Gen. Stat — part of the compiled statutory law of Connecticut, published by the state as "Gen. Stat." Browse the sections below, each linked to its official government source.
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Sec. 8-68j. Financially distressed development. Transfer to Connecticut Housing Finance Authority.
Official statutory text
(1) “Commissioner” means the Commissioner of Housing;
(2) “Connecticut Housing Finance Authority” means the authority created and operating pursuant to the provisions of chapter 134;
(3) “Financially distressed development” means a housing development owned by a housing authority and subject to an asset that was transferred from the Department of Housing to the Connecticut Housing Finance Authority pursuant to section 8-37u or subdivision (3) of section 32-11 ; and
(4) “Housing authority” means a local housing authority owning a financially distressed development.
(b) Notwithstanding any provision of the general statutes, a housing authority may, with the approval of the Commissioner of Housing, quit claim or otherwise transfer its interest in a financially distressed development to the Connecticut Housing Finance Authority. The commissioner may grant such approval upon an express finding that: (1) The housing authority is financially unable to maintain the development; (2) there is no reasonable prospect that the housing authority will be able to maintain the property in the future; (3) the housing authority has requested to transfer the development; and (4) the Connecticut Housing Finance Authority is prepared to accept the transfer.
(2) “Connecticut Housing Finance Authority” means the authority created and operating pursuant to the provisions of chapter 134;
(3) “Financially distressed development” means a housing development owned by a housing authority and subject to an asset that was transferred from the Department of Housing to the Connecticut Housing Finance Authority pursuant to section 8-37u or subdivision (3) of section 32-11 ; and
(4) “Housing authority” means a local housing authority owning a financially distressed development.
(b) Notwithstanding any provision of the general statutes, a housing authority may, with the approval of the Commissioner of Housing, quit claim or otherwise transfer its interest in a financially distressed development to the Connecticut Housing Finance Authority. The commissioner may grant such approval upon an express finding that: (1) The housing authority is financially unable to maintain the development; (2) there is no reasonable prospect that the housing authority will be able to maintain the property in the future; (3) the housing authority has requested to transfer the development; and (4) the Connecticut Housing Finance Authority is prepared to accept the transfer.
Status: in_force · Read it on the official government site
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