Bond Commission Awards $77 Million to Municipalities and Organizations, including Naugatuck
In a press release, the governor announced that the State Bond Commission has approved approximately $77 million in state funding to support the sixth round of grants under the Community Investment Fund 2030.
This sixth grant round supports 35 economic development projects in 21 towns and cities across Connecticut, including $3 million for Naugatuck.
“I want to thank the governor and the Bond Commission for including Naugatuck in this round of grant funding, and for recognizing the need for continued investments into our industrial areas to make sure they’re providing the most efficient services with minimal impact to the surrounding community,” Rep. Jensen said.
This cycle, as part of a larger, nearly $80 million overall grant, Naugatuck is slated to receive $3 million for continued work on “Industrial Park Phase 2”, which is ongoing in the Naugatuck Industrial Park III. During “Phase 2” workers will “construct temporary and permanent access roads, including streetscaping and utilities in the public-right-of-way, allowing lot access for end users, as well as connection to utilities.”
Created in 2022, the Community Investment Fund supports economic development in historically underserved communities across the state. According to the release, “eligible projects include capital improvements, affordable housing, brownfield remediation, infrastructure, and public facilities, as well as small business support programs that provide revolving loans, gap financing, microloans, or start-up financing.”