Opinion: Affordable capital builds stronger Connecticut communities for all

Hartford Courant – Tuesday, April 7, 2026
By Daniel C. Giungi, senior communications and government affairs specialist at the Connecticut Health and Educational Facilities Authority (CHEFA)

Across Connecticut, nonprofits are on the front lines of addressing our state’s biggest challenges — delivering healthcare, educating students, supporting families, and strengthening communities.

However, many nonprofit organizations face a common barrier: the high cost of capital projects.

Buildings age. Equipment breaks. Populations grow. Needs change. For nonprofits, finding affordable financing can make the difference between moving a critical project forward or delaying it for years.

That’s where the Connecticut Health and Educational Facilities Authority, or CHEFA, plays a vital role.

CHEFA’s recent $850 million dollar financing with Hartford HealthCare — the largest in the Authority’s history — is a clear example of the impact affordable capital can have. With CHEFA’s support, Hartford HealthCare is building a new 470,000 square foot patient tower at Hartford Hospital and acquiring Manchester Memorial Hospital and Rockville General Hospital, helping to continue facilitating access to care for 27,000 patients daily at 500+ locations across dozens of communities.

These projects don’t just add buildings — they expand emergency services, shorten wait times, improve access to specialists, and bring lifesaving care closer to home for thousands of residents. Importantly, the financing was tax‑exempt and cost‑effective, which means more resources will stay where they belong: in patient care.

But health care isn’t the only sector that benefits from CHEFA’s support. From independent schools and childcare centers to human service providers and arts organizations, nonprofits across the state turn to CHEFA for affordable financing options, including:

Tax‑exempt bonds for major capital projects, the Capital Investments Loan Program (CILP) for mid‑scale renovations and upgrades, the EasyLoan for simplified, lower‑cost equipment financing, and annual grants that support programmatic and capital needs.

Each of these tools helps nonprofits do what they do best — serve Connecticut communities.

As costs continue to rise, the need for accessible, responsible financing grows even more urgent. CHEFA remains committed to ensuring that the organizations caring for Connecticut have access to the capital they need to keep moving forward.

Because when nonprofits have the tools to strengthen their missions, our communities become stronger too.

Daniel C. Giungi is the senior communications and government affairs specialist at the Connecticut Health and Educational Facilities Authority (CHEFA)

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