Regulations of Connecticut State Agencies
CHFA shall require a mortgagor or its contractor to provide a performance bond, a letter of credit, or other security satisfactory to CHFA to insure completion of the housing project. In establishing the type, duration, and amount of acceptable security, CHFA shall consider project cost, developer performance record, the number of units or stories, the time for construction, and other pertinent factors.
(Effective November 3, 1981)