Last year, I 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.
New London 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 are now up on the CIF website.
