From Brian Lockart, CT:
Instead of committing to $100 million for a proposed $1.1 billion lower East Side redevelopment anchored by a minor league soccer stadium, legislators on Wednesday voted to focus on evaluating the economic impact of the massive project.
Entrepreneur Andre Swanston and city officials had been lobbying to get around $100 million set aside in the borrowing or bonding package that is part of the new Connecticut budget.
However, state lawmakers voted to have the Department of Economic and Community Development and Department of Revenue Services conduct an economic analysis of the impact of the proposed stadium on the city and the state. Lawmakers are also looking for a report by Oct. 1 on when the state will likely see a return on a $127 million state bonding investment in the project.
Officials say a state economic analysis would help further the case for significant public investment.
“In essence, what it does (is) it gives the project the life to take another bite at the apple,” said state Rep. Christopher Rosario, D-Bridgeport, of the East Side, while acknowledging “disappointment” actual funds could not yet be secured.
Full story here
TRANSLATION…………………………………..LUCKY TO BREAK GROUND BY 2029