FUNDING FOR WILTON COMMONS
Funding will come from many sources including contributions from private organizations and local residents since WCI is now qualified under the IRS code 501(c)(3). We will also pursue all possible State and Federal options for additional funding. The Town of Wilton is also a committed partner in Wilton Commons. The Town has provided the site for Wilton Commons on a long-term lease for one dollar per year, a commitment valued at over $2 million. No Wilton Town funds will be requested or used in the operations of Wilton Commons. The estimate for construction is $9.6 million dollars.
Anticipated Funding Sources:
- $7.6 Million from Federal Tax Credits and State or other government sources
- $2 Million from Private Support (United Way, Foundations, Individuals, Corporations)
Latest News
Announcement of funding completion, November 2010
Letter to Jodi Rell, February 2010
February 2010 Update.
CONNECTICUT POST
Response to "Aging Population Strain Local Budgets" Tuesday, January 19, 2010
I want to applaud the Connecticut Post’s efforts to spotlight the needs of our growing
senior population and the impact that rising nursing care costs will have on our local,
state and federal budgets. For the past 10 years, I have been working with a group of
Wilton residents to address these two issues in our community. The Town of Wilton has
provided land and local residents have raised almost $2 million towards construction of
“Wilton Commons,” a 70 unit affordable congregate living community for seniors. For
several years now we have been actively seeking funding from our state housing agencies
to start construction. Even though Wilton Commons would dramatically reduce the cost
of housing for seniors - from $7,000 a month in a nursing home to perhaps a little as
$1,000 in a congregate living community - we have yet to be approved under available
programs because of competing priorities that favor other types of housing. We know
that in difficult economic times there are too many priorities competing for too few
resources. But in the case of developments like Wilton Commons, which can address
critical needs in our communities, while reducing long-term costs and creating real jobs
now, new resources must be found. Wilton Commons is simply a win-win-win
opportunity at a time when our seniors and tax payers need it the most.
George Ciaccio
Chairman,
Wilton Commons, Inc.
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