CIF 2030 Board Approves Funding for Two Bridgeport Projects

March 13, 2024
I am pleased to announce that the Community Investment Fund 2030 (CIF) Board approved funding for a pair of Bridgeport projects on Tuesday that will help spur economic development and preserve and renovate locally and nationally significant places in our community.

First, CIF recommended $8 million for the Bridgeport Economic Development Corporation to help with remediation of 20-acres of brownfield sites and establishment of sustainable waterfront location through coastal resiliency and flood mitigation infrastructure for eventual minor and major league soccer stadiums, plus adjacent housing, retail and a hotel developed the Connecticut Sports Group. Connecticut United Football Club will participate in MLS Next Pro, a lower-division league associated with Major League Soccer starting in 2025.

The CIF additionally put forward nearly $5.2 million for the Connecticut Trust for Historic Preservation that will allow Preservation Connecticut and the Washington Park Revitalization Committee to conduct studies and perform critical renovations to seven locally and nationally significant places located within five city blocks. Funds will support state and national register documentations of buildings throughout the neighborhood.

The CIF supports economic and community development in historically underserved communities through grants to municipalities, nonprofit organizations, and community development corporations for various projects including

  • 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.
  • Planning for capital projects: community engagement processes, feasibility studies, development of project plan and construction budget.

The State Bond Commission issues final approval for recommended CIF projects.