The city is partnering with a new state development agency that has $60 million to boost housing development in town centers around the state. Founded last year and funded with $60 million in state bond money, the quasi-public CT Municipal Development Authority is set up to help cities and towns spur development in their downtowns and districts near public transportation. Justin Malley, Executive Director of Economic & Community Development for Bristol, said the council’s decision to join with the authority doesn’t guarantee any funding, but gives Bristol the opportunity to apply for funding in the future. Felix Reyes, chair of the board of the CT Municipal Development Authority explained that once a city signs a memorandum of understanding, they can apply for funding for a wide variety of development projects. The Board will then review and decide on whether or not to approve the allocation.
https://www.bristolpress.com/news/bristol-joins-new-agency-with-funding-to-boost-downtown-developent-across-the-state/article_7a514215-5b64-4c5b-82e1-4ef6a035f467.html