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Connecticut’s Community Investment Fund 2030 board, on Tuesday, signed off on borrowing $98.52 million to fund 28 projects ranging from redevelopment of former industrial spaces to creation of community centers.
Hartford-based nonprofit Riverfront Recapture is in line for a $522,000 grant completing a section of trail and a bridge that will connect riverside trails in Hartford and Windsor.
Another $7.5 million was allocated to help Manchester redesign its downtown Main Street to be safer for bicyclists and pedestrians.
Created by state lawmakers in 2020, the Community Investment Fund Board has a mandate to approve up to $875 million for projects in distressed municipalities over a five-year period. It approved $76.4 million worth of projects in its first grant round last September.
The funding requires approval from Gov. Ned Lamont and the state Bond Commission, but is expected to pass easily. Community leaders are already celebrating the new funding.
State Sen. Joan Hartley, D-Waterbury; State Sen. Jorge Cabrera, D-Derby; State Rep. David Labriola, R-Oxford; and State Rep. Seth Bronko, R-Naugatuck, issued a statement Tuesday morning celebrating a $3 million allocation to help redevelop an 86-acre site that formerly hosted Uniroyal Chemical and United States Rubber Co.
“This funding approval is significant for advancing the Naugatuck Industrial Project,” Hartley said. “Step by step, we are working closer to putting this 80-plus acre site back into productive use and growing the tax base…”
Greater Hartford-area recipients include:
The extension will also facilitate the housing authority’s development of another 123 units.
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Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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