Section 8-216b-2 - Program description(a) The Commissioner is authorized to extend financial assistance in the form of a grant to developers to enable them to undertake community development activities in predominately residential areas to assist in producing housing which is affordable to families of low and moderate income.(b) Developers may receive state financial assistance to carry out a project in accordance with a housing and community development plan. The plan must be drawn up in accordance with Section 8-216b of the Connecticut General Statutes and approved by the Commissioner before any financial assistance is awarded under this program. The amount of state financial assistance shall not exceed two-thirds of the net project cost as determined by the Commissioner with the approval of the State Bond Commission.(c) Developers shall be required to comply with all rules and orders promulgated from time to time by the Commissioner and consistent with the Connecticut General Statutes, and these regulations.Conn. Agencies Regs. § 8-216b-2