State Bond Commission Approves $931,800 for Tannery Brook Cooperative, Inc.

Hartford—Today the State Bond Commission approved a grant $931,800 to assist with rehabilitation of the 16 unit limited equity cooperative in Litchfield.

“It’s hard to believe that the Tannery Brook development is thirty years old!” said Sen. Miner. “The Litchfield Housing Trust in conjunction with residents of the co-op at Tannery Brook have provided safe, affordable housing for families in Litchfield. Thank you to the Bobd Commission for their support of the grant request and to Gov. Lamont for recognizing the significance of the rehabilitation project in Litchfield.”

The limited equity cooperative model is different from normal affordable housing. Each member owns a part of the whole cooperative, and not just his/her individual unit. It gives low income families the opportunity to own property and live in a community they otherwise might be priced out of.

“In addition to providing people with a chance to own a home, Tannery Brook offers families a community that is tight-knit and safe,” added Rep. Wilson. “Investing in rehabilitation of the Co-op is good for not only those families, but for the entire town of Litchfield.”