Housing projects, school improvement projects and municipal clean water initiatives are among the proposals the State Bond Commission plans to borrow money for during a Friday meeting, according to the panel’s agenda.
The commission is set to approve more than $250 million in general obligation bonds and $382 million in revenue bonds when it meets Friday for the second time this month.
The agenda lists more than $40 million for Housing Department projects, including funding for supportive housing initiatives in Manchester, Hartford, Hamden and Bridgeport. The group also plans to borrow funds for housing projects in Deep River and Stonington.
A handful of school and building improvement projects also are set to go on the state credit card. The Bond Commission plans to authorize $39 million to renovate a building at Naugatuck Valley Community College in Waterbury. Another item borrows about $3 million for renovations at Vinal Technical High School in Middletown. The commission will borrow about $10 million for construction projects at Hammonasset Beach State Park in Madison.
Bonding for the Clean Water Fund makes up the largest item of Friday’s agenda. The commission is set to authorize $110 million in General Obligation Bonds and $370 million in Revenue Bonds to help municipalities fund required clean water projects.
“Connecticut must continue to be a leader in providing financial support for the efforts of our cities, towns, and regional authorities to modernize and improve wastewater treatment plants and sanitary sewer systems in order to protect the quality of our rivers, streams, and Long Island Sound, as well as the health of our residents,” Gov. Dannel P. Malloy said in a press release. “The aid package will keep us moving in that direction, as well as providing more than 10,000 attractive jobs in manufacturing, engineering, and construction.”
Economic Development Department grants also are on the commission’s agenda. The panel will borrow more than $22 million to fund aid agreements with companies promising to create jobs or not downsize.
Conair, an appliance corporation, will receive $9 million for improvements to its Stamford facility. Fuel Cell Energy, Inc, an energy company with operations in Danbury and Torrington, will receive $10 million to expand. Jarden Corporation, a consumer products holding company, will receive $2 million for a construction project to relocate its executives from New York to Norwalk. Meanwhile, Goodway Technologies, a maintenance equipment manufacturer, will receive $1 million to offset improvements to its Stamford facility.
Malloy, who controls the Bond Commission’s agenda, has not yet set a voluntary borrowing limit for 2015. In 2013 and 2014, Malloy set a $1.8 billion soft bonding cap for himself. He stayed under the cap in 2013, but exceeded it last year.
Earlier this month, the state Bond Commission approved more than $655 million in general obligation bonds and another $65.2 million in special revenue bonds.