CMSC was proud to present the Connecticut Housing Finance Authority with the Jack Shannahan Prize for Public Service at its 2015 Awards Gala in recognition of their pioneering efforts to revitalize our downtowns and Main Streets through the Come Home to Downtown program.
The Jack Shannahan Prize for Public Service
presented to the Connecticut Housing Finance Authority
Established in honor of Jack Shannahan, the former director of the Connecticut Historical Commission and State Historic Preservation Officer; and a founder and first Board Chair of CMSC, the Jack Shannahan Prize for Public Service recognizes public sector individuals and organizations that exemplify a high standard of leadership with a deep commitment to the success of Connecticut’s Main Streets.
CMSC does not present the Jack Shannahan Prize on an annual or competitive basis, instead it bestows the honor in recognition of extraordinary efforts by Connecticut’s public servants to preserve and bring our historic town centers back to life.
About the Connecticut Housing Finance Authority
Created by the state legislature in 1969, the Connecticut Housing Finance Authority (CHFA) is a quasi-public agency charged with the purpose of expanding affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals. Since its inception, CHFA has helped almost 120,000 individuals and families become homeowners through its low-interest single family mortgage programs. In addition, CHFA has financed the creation of over 32,000 affordable, quality rental units throughout the state. Its financial prudence is evident in its AAA bond rating from Standard and Poor’s Rating Service and Moody’s Investor Service, one of only a few housing financing agencies in the country to do so.
Beyond traditional single- and multi-family financing, CHFA consistently seeks innovative ways to respond to the changing housing needs of Connecticut’s communities, creatively collaborating with non-profit and public partners to devise new and innovative housing models. CHFA continued to proactively address the state’s housing need when it contracted the Connecticut Main Street Center in 2012 to create Come Home to Downtown, a program aimed at rejuvenating our historic downtowns and town centers. This program provides planning and technical assistance to redevelop small, underutilized downtown properties into housing above commercial space (known commonly as mixed-use development).
CHFA provided the source funds for this program from Community Investment Act (CIA) proceeds designated for the expansion of affordable housing opportunities that also further responsible growth and economic and community development strategies. Beyond proactively seeking partnerships that will bring more residents to our downtowns and town centers, CHFA has also further supported these efforts with the creation of a loan fund to help the owners of these properties undertake the necessary redevelopment to transform their buildings. The first loan is being utilized to create sixteen new apartments in downtown New Britain.
For their extraordinary support of our downtowns, we are proud to present the Connecticut Housing Finance Authority with the Jack Shannahan Prize for Public Service.