Community Investment Fund

State Representative Joe Gresko, (D)
121st Connecticut House District

State Representative Phil Young (D)
120th Connecticut House District

Dear Neighbor,

Last year, we voted for the future of our communities by establishing the $875 million Community Investment Fund (CIF). This is a transformational opportunity to invest in underserved communities in Connecticut through economic development and small business, education, and infrastructure projects.

The CIF allows $175 million per year for the next five years in bonding, with the option to renew the program for an additional five years. This funding will be directed to projects proposed by eligible municipalities, community development corporations, or nonprofit organizations.

Stratford is an eligible municipality and could receive grants available through the CIF for:

·  Capital Improvement Programs: brownfield remediation, affordable housing, infrastructure, clean energy development, and home or public facility rehabilitation

·  Small Business Capital Programs: revolving or micro loan programs, gap financing, and start-up funds to establish small businesses

Applications for the fund have not yet been posted on the CIF website, but are anticipated to be by the end of the month. In the meantime, the Department of Economic & Community Development is hosting an informational webinar on June 1st from 11 a.m.-12 p.m. If you have any questions about the CIF, this will be a great opportunity to ask them.   For further information go to:

https://portal.ct.gov/communityinvestmentfund/About-The-Fund?language=en_US

We are proud to see our community recognized with the investments that can be made through the CIF. A special thank you to the Black and Puerto Rican Caucus leadership and the Speaker of the House Representative Matthew Ritter for all your hard work to create this fund.

As always, please feel free to reach out to us at the Capitol at 800-842-8267 or email us:  Phil.Young@cga.ct.gov or Joseph.Gresko@cga.ct.gov.

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