Regulations of Connecticut State Agencies
Upon approval of a multi-unit complex (such as a condominium, a planned unit development, etc.), CHFA will determine the number of units that will be eligible for CHFA mortgage loans. CHFA shall not hold CHFA mortgage loans on more than fifty (50) percent of the units in any multi-unit complex, and at least fifty (50) percent of the units shall be sold or under bona fide contract of sale prior to CHFA's purchase of any CHFA mortgage loan on a unit, unless otherwise approved by resolution at a regular or special meeting.
(Effective January 27, 1986)