Cities such as Bridgeport can leverage a state resource fund of $175 million for revitalization projects starting next July.
From CT Mirror:
Top state lawmakers and Gov. Ned Lamont’s administration challenged Connecticut’s poorest cities and towns Wednesday to think big if they want to tap a new pot of state financing to revitalize their communities.
The Community Investment Board 2030 launched a process that potentially could channel $875 million in state financing over the next five years–and as much as $1.5 billion over the next decade–into nearly three dozen distressed municipalities.
“This wasn’t just a one-of thing that was stuck in the budget,” House Speaker Matt Ritter, D-Hartford, who co-chairs the board, said following Wednesday’s meeting. “These pots of money are going to be for projects you can look back at in five or 10 years and see a difference.”
Cities and towns, community development corporations and other nonprofit entities are being asked to take a holistic approach, the speaker said. Though they could seek funding for one capital project, such as downtown parking and sidewalk repairs, long-term plans that might include several elements–job creation, expansion of affordable housing or filling a gap in vital support services–will have a big advantage.
Full story here.
Is this another Shovel Ready horse shit program ?
“…The Community Investment Board 2030 launched a process that potentially could channel $875 million in state financing over the next five years — and as much as $1.5 billion over the next decade — into nearly three dozen distressed municipalities.
“’This wasn’t just a one-off thing that was stuck in the budget,” House Speaker Matt Ritter, D-Hartford, who co-chairs the board, said following Wednesday’s meeting. “These pots of money are going to be for projects you can look back at in five or 10 years and see a difference.’”
So if we think $1.5 billon over 10 years: Bridgeport gets $20 million to avert future flood-related drownings and relocate flood-destroyed homes in the NE and SW sections of the city caused by overdevelopment on our borders with (especially) Trumbull, and Fairfield; and another $10 million to keep RCI Marine afloat (no pun intended)… New Haven gets $5 million for municipal security cameras. Waterbury gets $20 million to fix the new problems caused by the latest Mix-Master “fix”… New London gets $5 million to expand their poly-addiction programs. Trumbull gets $15 million to create thousands of units of multi-family housing units on the Bridgeport border (served by Bridgeport infrastructure)… Norwalk gets $50 million for high-end waterfront development.
“The Region” gets $175 million for sewer upgrades in Bridgeport.
Hartford gets $200 million — because they’re “Hartford.”
Stamford gets $1 Billion — because they’re “Stamford”…
And, alas, the $1.5 billion is gone, and the status remains quo in the Land of Steady (bad) Habits…
Forgot Danbury. They’ll get to be left alone and just be allowed to be “Danbury.” New tax-base, wealthy residents, and federal and state money will find them, and their best-kept-secret trained labor pool, as it has been the case for the past 40+ years…