The State Bond Commission on Friday approved $340.2 million in funding for projects across the state.
Among other things, the commission approved redirecting about $7 million previously allocated for redevelopment of East Hartford’s Silver Lane and Rentschler Field corridor for construction of new apartments at the 25-acre former Showcase Cinema site. At least 300 units are planned.
In addition, the commission approved:
- $6.5 million for abatement and demolition of buildings at Founders Plaza in East Hartford, including the former McCartin School and three adjacent buildings. A developer has proposed a mixed-use project that includes hundreds of apartments, along with new restaurants, entertainment, office space and passive recreation.
- $4.85 million for renovations to the state Capitol complex, including skywalk upgrades, hearing room renovations, carpeting, technology upgrades, and other improvements and repairs.
- $9 million for the Department of Economic and Community Development’s Small Business Boost Fund – formerly known as the Small Business Express Program – which includes establishing at least one minority business revolving loan fund.Â
- $30 million to provide supplemental financing for redevelopment and upgrades to the State Pier in New London. The plan is to create a modern, heavy-lift port through a public-private partnership.
- $20 million to finance loans for housing projects and programs under the Housing Trust Fund. The funds would go toward the Time To Own first-time homebuyer assistance Program.Â
- $1.5 million for a mixed-use development on vacant Hartford-owned land on Albany Avenue between Magnolia and Irving streets. The property was previously slated to receive funds to create a neighborhood park, but the money has been redirected.
- $4.6 million for small programs and administrative costs under the Economic Development and Manufacturing Assistance Act.Â
- $750,000 to provide a grant-in-aid to the Eastern Connecticut Chamber of Commerce to move its headquarters to downtown New London.
