CITY OF NEW HAVEN LAUNCHES I’M HOME INITIATIVE: AFFORDABLE HOUSING PROGRAMS AIMED AT PROVIDING RENTAL ASSISTANCE, PROMOTING HOME OWNERSHIP, AND STRENGTHENING NEIGHBORHOODS 

The two-pronged program provides security deposit assistance for renters up to $5,000 as well as down payment and closing cost assistance for first-time homebuyers up to $27,500 for eligible low-to-middle income residents.

(Link to video of press conference.)

NEW HAVEN, CT | Today at City Hall, Mayor Justin Elicker – joined by New Haven Livable City Initiative Executive Director Arlevia Samuel, Alder Eli Sabin (Ward 7), and New Haven resident Tatania Sellers – announced the launch of the I’M HOME initiative, a two-pronged affordable housing program by the City of New Haven designed to provide financial assistance to both renters and first-time homeowners in an effort to promote long-term housing stability and local neighborhood investment.

“The I’M HOME affordable housing initiative will provide hundreds of renters and dozens of first-time homeowners with critical financial assistance to help ensure their long-term housing stability and strengthen our neighborhoods,” said Mayor Justin Elicker. “In order for anyone to thrive, they need to have affordable, safe, high-quality housing and for our neighborhoods to thrive, they need residents who have a long-term stake in their future. When you invest in a home or put down roots in a rental unit, your wellbeing becomes intertwined with the wellbeing of the neighborhood, and people feel a deeper sense of pride in their home and a deeper connection to the neighborhood they live in. The I’M HOME initiative will help provide the funds to make that a reality for more New Haven families.”

Built on the notion that everyone deserves affordable, safe, high-quality housing, the I’M HOME initiative includes:

• The New Haven Security Deposit Program, which provides one‐time rental security deposit assistance for up to two months and $5,000 as well as utility deposit and set up costs to income eligible individuals and families. The City has designated $3 million in American Rescue Plan Act (ARPA) funding for this program, which will support an estimated 600 New Haven households in need of permanent housing with an eye toward preventing homelessness and stabilizing neighborhoods.

• The New Haven Down Payment and Closing Cost Assistance Program, which provides first-time homeowners with up to $27,500 in financial assistance (via an zero interest five-year forgivable loan) to income eligible individuals and families. The City has designated $1 million in ARPA funding to expand this existing city program, and the added funds will support an estimated 40 New Haven households.

Arlevia Samuel, Executive Director of New Haven Livable City Initiative, added, “Security deposits can be a huge obstacle for residents to move into a rental unit -- and, similarly, it’s often very hard for people to come up with a down payment to buy a new home. The I’M HOME initiative makes new rental and home ownership opportunities more accessible to more New Haven residents so that they can truly find a place they can call home.”

“Addressing our affordable housing crisis has been a top priority for the Board of Alders, as we know many New Haven residents are struggling to keep a roof over their heads and also to build wealth long-term in a way we know housing can,” said Alder Eli Sabin on behalf of the New Haven Board of Alders. “Both aspects of the I’M HOME initiative – the security deposit assistance program and the down payment assistance program – are going to go a long way to support families across New Haven, helping renters to get in the door and have an affordable, safe place to live and helping new homeowners to get on that ladder of opportunity to build generational wealth.”

“Without the support of this program, finding the money for security deposit was just out of reach,” said Tatania Sellers, the first New Haven resident to receive security deposit assistance through the I’M HOME initiative. “The extra boost was all I needed to get me and my family into an apartment we could call home and begin to dream about the future and begin exploring new opportunities.”

In order to qualify for the programs, household income must not exceed 300% of the federal poverty guidelines for the New Haven area, as adjusted for family size, along with meeting other eligibility criteria for the programs. That currently translates to an annual income of $38,640 for a one-person household to $79,500 for a four-person household. The Livable City Initiative (LCI) will also prioritize assistance for individuals and families with the largest need and who can sustainably remain in permanent housing.

To learn more about the I’M HOME initiative or to apply for either program, residents can go to:  www.newhavenct.gov/LCI or call 203-946-7090.

Press Contact: