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Governor Rell: $225 Million Available To Help Towns Lower Financing Costs for Construction Projects

State Now Accepting Applications
for Stimulus ‘Recovery Zone’ Program

Governor M. Jodi Rell today announced the state is now accepting applications for $225 million in special bonding available through a new federal stimulus program for eligible shovel-ready construction projects throughout the state. 

“This new stimulus program is an opportunity to build upon the progress we have made on Connecticut’s responsible growth agenda by jump-starting many worthwhile projects,” said Governor Rell. “By lowering the costs of financing for these shovel-ready projects, we are providing a boost to the local and state economies and putting people to work when they need it most.”

The Governor said $90 million is for tax credit bonding for governmental-purpose projects by cities and towns, among others, and $135 million is for private sector projects.  Sixty-two communities in Connecticut are eligible for self-sustaining financing.
Read the news release

Find out more about Recovery Zone Bond Program
Connecticut Recovery Zone Bond Program Application         
Please submit four copies of your application: two copies of the application to each of
Karin Lawrence
Connecticut Development Authority
999 West Street, Rocky Hill, CT 06067
Tel: (860) 258-7814
Email: karin.lawrence@ctcda.com
Peter Simmons
Department of Community and Economic Development
505 Hudson Street, Hartford, CT 06106
Tel: (860) 270-8149
Email: peter.simmons@ct.gov



10/21/2009


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