The state will partner with a national nonprofit to fill a $15 million fund meant to spur economic development along the CTFastrak busway corridor from New Britain to Hartford and along the New Haven-Hartford-Springfield rail corridor, Gov. Dannel P. Malloy’s office announced.
The state and the Connecticut Housing Finance Authority will each kick in $1 million, while fund administrator Local Initiatives Support Corp. — which is headquartered in New York City and has a Hartford office — will corral at least $13 million in private capital.
The fund will prioritize mixed-use proposals near transit hubs.
LISC will work with state officials to identify potential properties along the transit corridors, and provide early-stage capital for design, site and building analysis, and zoning and property acquisition, officials said.
