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June 7, 2024

State Bond Commission approves $850M bonding package

HBJ FILE PHOTO The state Capitol with downtown Hartford in the background.

The State Bond Commission, in its first meeting of the year, approved more than $850 million for dozens of projects across Connecticut Friday morning. 

The commission approved a total of $519.7 million in bond authorizations and $337 million in special tax obligation bonds, including $50 million to fund the Build for CT program, which will provide incentives for developers of market-rate multifamily properties to create affordable housing.

The State Bond Commission typically meets several times per year to determine whether to approve funding for projects requested by the governor, along with the amount and timing of bond sales. 

Among the projects receiving funding are:

  • $10 million low-interest loan to help finance the conversion of commercial space at 64 Pratt St. in downtown Hartford into 200 new dorms for UConn students. 
  • $5 million for repairs and improvements to parking garages in downtown Hartford.
  • $3.5 million to finance a loan for Spectra Construction and Development’s $9.8 million effort to convert a commercial building at 30 Laurel St. in Hartford into 47 market-rate apartments.
  • $4.5 million to demolish McCartin Elementary School in East Hartford, and for infrastructure improvements, to prepare the site for construction of a single-family home development.
  • $11 million for the Minority Business Revolving Loan Fund administered by the Hartford Economic Development Corp.
  • $12 million for improvements to the Department of Emergency Services and Public Protection’s firing range in Simsbury.
  • $1.7 million for upgrades associated with the consolidation of the state-owned twin towers at 450 Columbus Blvd. in Hartford.
  • $3 million from the Community Investment Fund to renovate and “reactivate” the historic Aetna Diner at 267 Farmington Ave.
  • $6.5 million to renovate Connecticut’s first synagogue at 21 Charter Oak Ave., now home to the Charter Oak Cultural Center School for the Arts, and the historic home next to it at 25 Charter Oak Ave.
  • $5.5 million for pre-development, site improvements and infrastructure upgrades for the streets, utilities and sidewalks at Willow Creek in Hartford.
  • $4 million for improvements to Rockwell Park in Bloomfield.
  • $2 million for infrastructure repairs and improvements to streets and sidewalks in the Front Street District in Hartford.
  • $7.8 million grant to finance infrastructure improvements at the U.S. Navy submarine base in Groton that will enable it to keep more vessels.
  • $67 million for various urban development projects, including a $3.5 million grant to the town of Ansonia to demolish the town’s Ansonia Copper and Brass factory, and a $1.1 million grant to the Mattatuck Museum in Waterbury for upgrades to the heating and ventilation system.

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