Eversource Presents $448,119 in tax credits to The Foundation for Norfolk Living
Thomas Dorsey, Eversource presents a check to former FNL President Lou Barbagallo, also present Treasurer Catie Dougan (left) current FNL President Kate Briggs Johnson (right)
July 20, 2019Norfolk, Conn.
Thomas Dorsey of Eversource recently presented Foundation for Norfolk Living (FNL) volunteers with a check for $448,119 for CT Tax Credits earned for FNL’s Town Center Rental Project.
FNL’s 12-unit town center renovation project was primarily funded by a grant from the Connecticut Department of Housing. All five buildings of the project qualified for the state’s Historic Tax Credit Program due to their historic significance.
Eversource purchases historic tax credits as part of its commitment to local communities. Eversource’s purchase of FNL’s Town Center Rental Project tax credits was an important part of the overall financing package for the project.
“We are thankful for Eversource’s generosity and commitment to community,” said Kate Brigg Johnson, President
“The Eversource payment will enable FNL to close out its bridge loan with Local Initiatives Support Corporation (LISC), and effectively completes the financing for the project.”
All 12 units of the Town Center Rental Project have been occupied since the ribbon cutting in June 2018
About the Foundation for Norfolk Living
The mission of the Foundation for Norfolk Living is to create opportunities for housing in the Town of Norfolk, CT that will be affordable to a diverse community, including people and families of modest means.