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Senator Doug McCrory, D-Hartford, celebrated the Community Investment Fund 2030 board’s Tuesday recommendation to dedicate millions to Hartford-based projects including funding for housing developments and accessibility upgrades to the Harriet Beecher Stowe Center.
Senator McCrory serves as a member of CIF’s board, which met Tuesday morning and recommended funding a series of projects to encourage economic development including:
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$2 million to support the construction of 60 new affordable housing units on Barbour Street by the Mutual Housing Association of Greater Hartford.
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$250,000 to support the planning phase of the San Juan Center’s proposed affordable housing development to be located on the corner of High Street and Albany Avenue.
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$4.6 million to support the Harriet Beecher Stowe Center’s project to improve access to its buildings and transform its property into a green space complete with gardens, paths and seating.
“Members of our community know what they need to thrive, and this funding is about giving them the support they need to make their ideas a reality,” Senator McCrory said. “The projects we’re funding on Barbour Street, Albany Avenue, and at the Harriet Beecher Stowe Center are examples of local vision empowered to create lasting change. I’m proud to serve on the Community Investment Fund board and help direct these resources where they belong— in the hands of the people who are driving the future of Hartford.”
The Community Investment Fund 2030 (CIF) was created by a bipartisan vote of the General Assembly in 2021, and is funded through state bonding.
Tuesday’s CIF vote is a key step toward final approval of the plan by the State Bond Commission, which must come in the next 60 days.
The CIF fosters economic development in historically underserved communities across the state. CIF will provide a total of up to $875 million to eligible municipalities as well as not-for-profit organizations and community development corporations that operate within them.
Grants are available for:
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Capital improvement programs, such as brownfield remediation, affordable housing, infrastructure, clean energy development, and home or public facility rehabilitation
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Small business capital programs, including revolving or micro loan programs, gap financing, and start-up funds to establish small businesses
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Planning for capital projects including activities such as community engagement processes, feasibility studies, development of project plan and construction budget.
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