The state Department of Economic and Community Development, on Wednesday, announced the opening of applications for a third round of grants from the state’s $875 million Community Investment Fund 2030.
Lawmakers, in 2021, approved the program intended to distribute up to $175 million yearly over five years to municipalities, development agencies and nonprofits for developments in 55 “traditionally underserved” municipalities.
DECD helps solicit and vet applications, which must pass a board led by top state lawmakers before heading to the Governor and state Bond Commission for funding.
The Community Investment Fund 2030 board approved its first round of grants — totaling $76.4 million — last October.
That round included $12 million to support Middletown’s plan to redevelop hundreds of acres along the Connecticut River, $2.5 million for redevelopment of a crime-ravaged boarding house in downtown East Hartford, $10 million for a brownfield cleanup in Waterbury and more.
In March, state officials announced $98.52 million to fund 28 projects ranging from redevelopment of former industrial spaces to creation of community centers.
The grants can be used for capital improvement projects, like brownfield cleanup, affordable housing, infrastructure, clean energy and housing. CIF grants can also be used to fund small business programs, including micro-loans, gap-financing and startup assistance for small businesses.
Applications are due by noon on June 30.
For more information, visit: https://portal.ct.gov/communityinvestmentfund/.
