Within a total of about $857 million in new borrowing approved on Friday, the State Bond Commission voted to approve $74 million for its Community Investment Fund last week, including major allocations for affordable housing and other issues. The Community Investment Fund 2030 – which is part of the larger bond allocations for the fiscal year that totaled over $3.5 billion – is part of the state’s effort to invest in towns around Connecticut through state-funded grants to be spent on issues like fixing brownfields and building more affordable housing. It marks the second time in as many years that Hamden has received state funding for affordable housing, with the city getting $26 million in 2023. The governor explained that the approval of these state funds is expected to unlock $562,500 in federal matching funds from the U.S. Department of Agriculture’s Natural Resources Conservation Service to assist in the effort.
Bond Commission Approves $74 Million For Flood Mitigation, Affordable Housing, Other Projects