Bridgeport Receives $13M In Economic Development Grants From State

BRIDGEPORT, CT — Bridgeport has received a pair of grants totaling $13,156,141 from the state-run Connecticut Investment Fund, Gov. Ned Lamont announced.

The city is one of the municipalities to share in the $74 million grant program, which is designed to support economic development in historically underserved communities across the state.

According to officials, eligible projects include capital improvements, such as those focused on affordable housing, brownfield remediation, infrastructure, and public facilities, as well as small business support programs that provide revolving loans, gap financing, microloans, or start-up financing.

In addition to promoting economic or community development in the municipality, projects must be intentionally designed to further consistent and systematic fair, just, impartial treatment of all individuals, including those belonging to underserved and marginalized communities such, as Black, Latino, indigenous and native American persons, Asian Americans, Pacific Islanders, and other persons of color; members of religious minorities; persons comprising the LGBTQ+ community; persons who live in rural areas; and persons otherwise adversely affected by persistent poverty or inequality.

"Each of these grants are focused on infrastructure improvement projects that will enhance the economic vibrancy of historically underserved neighborhoods and help these towns and cities revitalize their economic base," Lamont said in a statement. "I am glad that we could partner with each of these organizations on these projects so that we can drive growth in communities across Connecticut."

The Bridgeport programs to receive fund are:

Bridgeport Economic Development Corporation Award
Amount: $8,000,000
Description: “Connecticut Sports & Community Infrastructure” – CIF funds will be used towards remediation of 20-acres of brownfield sites including portions of 255 and 363 Kossuth Street, 83 - 153 Howe Street, and 141 – 173 Stratford Avenue, and an area of land between 141 Stratford Avenue and 255 Kossuth Street, and establishment of sustainable waterfront location through coastal resiliency and flood mitigation infrastructure. The CIF Funds will support the public greenspace and park aspects of the project.

Connecticut Trust for Historic Preservation, Inc. Award
Amount: $5,156,141
Description: “Washington Park Community Preservation” – CIF funds will allow Preservation CT and the Washington Park Revitalization Committee to conduct studies and perform critical renovations to seven locally and nationally significant places located within 5 city blocks. Funds will support state and national Register documentations of buildings throughout the neighborhood.

Click here for more information on the grant program and the recipients.