Connecticut launched a new program to help municipalities attract small businesses, promote commercial activity and increase local job numbers by providing grants for infrastructure renovations and improvements to town commercial centers.
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 the municipality.
“The Main Street Investment Fund will respond to the needs of small communities around the state by strengthening their commercial centers and creating lasting partnerships with the local merchants,” said Gov. Dannel P. Malloy, in a prepared statement. “With the right investments and the right partnerships, we can ensure that Main Street Connecticut will be the driving force behind our economic revival.”
The Main Street Investment Fund will provide grants of up to $500,000 to towns with less than 30,000 residents or those eligible for Connecticut”™s Small Town Economic Assistance Program. Earlier this month, the State Bond Commission approved $5 million for the fund.
The program also provides financial incentives to the owners of commercial private properties for eligible expenditures that directly support and enhance a qualified project.
Entities can apply to the Connecticut Office of Policy and Management through September 28, 2012.
