Naugatuck receives over $5 million in state funding for revitalization project

The funds were recently approved by the State Bond Commission.

NAUGATUCK, CT — Naugatuck has received more than $5 million in state funding for the Rubber Avenue Corridor revitalization project following approval by the State Bond Commission on Friday.

According to a press release from Governor Ned Lamont's office, the $5,754,493 in funds will be used to transform the Rubber Avenue Corridor, encouraging private investment through infrastructure investments while improving connectivity and increasing resiliency through stormwater drainage improvements in the Nettleton Avenue area.

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On Friday, the State Bond Commission approved the release of approximately $74 million in state funds to support the fourth round of grants under the Community Investment Fund 2030.

The state grant fund was established in 2022 to support economic development in what Lamont called “historically underserved” communities across Connecticut. It will be overseen by a 21-member board chaired by Senate President pro tempore Martin M. Looney (D-New Haven) and House Speaker Matt Ritter (D-Hartford), the release said.

The Board reviews grant applications and makes recommendations to the Governor, who, in his capacity as Chairman of the State Bond Commission, approves the recommendations and forwards them to the Commission for final approval to release the funds.

According to the press release, the program will provide grants of up to $875 million over five years.

Eligible projects include capital improvements, such as affordable housing, brownfield rehabilitation, infrastructure and public facilities, as well as small business support programs that provide revolving loans, bridge financing, microcredit or seed capital.

In addition to promoting economic or social development in the community, projects must be intentionally designed to promote consistent and systematic fair, equitable, and impartial treatment of all people, including those from underserved and marginalized populations such as Black, Latino, Indigenous, Native American, Asian American, Pacific Islander, and other people of color; members of religious minorities; people belonging to the LGBTQ+ community; people living in rural areas; and people otherwise experiencing persistent poverty or inequality, the release said.

“Each of these grants focuses on infrastructure improvement projects that will increase the economic vitality of historically underserved neighborhoods and help these cities and towns revitalize their economic base,” Lamont said in a press release. “I'm glad we were able to partner with each of these organizations on these projects so we can spur growth in communities across Connecticut.”

Anna Harden

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