The State Bond Commission is expected to meet today to approve several initiatives aimed to jump start the economy and improve Connecticut’s transportation infrastructure.
The commission, chaired by Gov. M. Jodi Rell, is scheduled to meet Tuesday at the Legislative Office Building and vote to borrow $21.5 million to establish a number of job creation and training initiatives.
That includes $15 million for small business loans, and $5 million for a pre-seed financing program. There will also be $500,000 set aside for a Lean green manufacturing pilot program to assist manufacturers in converting their operations into green facilities or implementing energy efficiency measures.
The agenda also includes a proposed $260 million to help pay for the improvements for high-speed trains running through Connecticut and western Massachusetts and another $226 million to purchase an additional 80 commuter rail cars for Metro-North’s New Haven Line
The $260 million is Connecticut’s matching portion for a $220 million federal grant that’s being sought. The state filed its application Aug. 6.
The money will cover station upgrades, new stations and pay to double-track the remaining 25 miles of the 62-mile line. Double-tracking allows trains to pass one another.
Other items on the agenda include $15 million to improve state roads and bridges and $3.2 million to improve the military value of the Groton Sub Base.
