State makes money available for towns to promote commercial growth

Governor Dannel P. Malloy today announced that the Connecticut Department of Housing is now accepting applications from eligible towns interested in applying for a second round of grants under the state’s Main Street Investment Fund (MSIF). The program, which launched in 2012, provides grants to municipalities for infrastructure renovations and improvements to town commercial centers in order to attract small businesses, promote commercial activity, and increase local jobs.

 “The Main Street Investment Fund helps state government build a solid and trusted working partnership with smaller communities that are striving to strengthen their commercial centers, and attract additional businesses and jobs,” Malloy said in a press release from his office. “While our state experienced one of the best years in decades for job creation last year, we still have more work to do. Improving and upgrading our town centers to ensure they are livable, walk-able communities will lay the foundation for sustainable economic activity.”

Towns can use the funding for a variety of projects, such as building renovations, improved street lighting, sidewalk construction, signage, recreational space, or other renovations deemed necessary to contribute to the economic success of a municipality. The program also provides financial incentives to the owners of commercial private properties for eligible expenditures that directly support and enhance a municipality’s eligible project.

The program’s goal is to strengthen a town’s partnership with local businesses by creating vibrant communities with desirable, walk-able neighborhoods that in turn will help businesses grow, create jobs, and have a positive impact on that town’s local economy.

Eligible municipalities include those with less than 30,000 residents or those that are eligible for the state’s Small Town Economic Assistance Program (STEAP). Individual grants shall not exceed $500,000.

Municipalities interested in applying for the second round should visit http://www.ct.gov/doh/mainstreet to download the instruction and application form.

For additional information, call Dimple Desai, Community Development Director with DOH, at (860)270-8012.

The deadline to submit applications is May 30 at 4 p.m.

 

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