The state Bond Commission on Friday is scheduled to consider more than $2.9 billion in financing actions, including $652.7 million in bond authorizations for housing, transportation, redevelopment and other capital initiatives, along with approximately $2.25 billion in bond sales and other financing transactions.
The meeting, chaired by Gov. Ned Lamont, is set for 10:30 a.m. at the Legislative Office Building in Hartford.
Much of the project-related spending on Friday’s agenda centers on housing and economic development.
Among the largest development-related proposals is $75 million for the state’s flexible housing program, including $66 million in new borrowing and $9 million from prior bond authorizations. The funding would support new housing construction, rehabilitation projects and improvements to existing housing developments.
A major economic development item is nearly $63 million for the Community Investment Fund, which would finance 38 projects approved earlier this year by the CIF 2030 board.
Notable awards include $6 million to support redevelopment of 111 Founders Plaza in East Hartford; $5 million for the University of New Haven’s planned Center for Innovation and Applied Technology in West Haven; $7 million for expansion of a Head Start facility in Stamford; $6 million to prepare the St. John Towers property in Stamford for affordable housing redevelopment; and $250,000 for planning tied to redevelopment of Hartford’s state-owned office complex at 61 Woodlawn St. in the Asylum Hill neighborhood.
The commission is also being asked to approve $19.4 million through the Municipal Redevelopment Authority for several mixed-use adaptive reuse and housing developments in Enfield, New London and Norwich. The largest allocation, $9.36 million, would support redevelopment of a former industrial site in Enfield into a high-density residential neighborhood.
Brownfield remediation is another significant theme.
The Department of Economic and Community Development is seeking $10 million in supplemental funding for its Brownfield Remediation and Revitalization Program, which provides grants and low-interest loans to clean up contaminated properties for redevelopment. Another $4 million would go toward remediation work at the former Anamet industrial site in Waterbury.
Transportation represents the single largest project borrowing request, with $486 million in special tax obligation bonds proposed for highway, bridge, rail and bus investments, including road resurfacing, bridge repairs, wrong-way driving prevention technology and transit facility improvements.
Housing-related requests extend beyond development financing. The agenda includes $10 million for the state’s Time To Own first-time homebuyer assistance program, which offers forgivable loans to eligible buyers.
Other business-relevant items include:
- $21 million for upgrades at the Connecticut Convention Center and Rentschler Field, including roof, HVAC, lighting and scoreboard improvements.
- Nearly $59 million for statewide government technology modernization projects, including DMV digital credential work and cloud migration efforts.
- $16.5 million combined for childcare facility expansion, part of the state’s effort to add 16,000 childcare spaces over five years.
- $15 million in grants for nonprofit health and human service providers for facility upgrades, technology improvements and capital projects.
- $25 million for deferred maintenance and infrastructure improvements across the Connecticut State Colleges and Universities system.
The proposed authorizations would bring the state close to its annual bond cap, according to commission documents.
