Stamford Receives Money From State's Community Investment Fund

STAMFORD, CT — Gov. Ned Lamont, Senate President Pro Tempore Martin M. Looney (D-New Haven), and Speaker of the House Matt Ritter (D-Hartford) last week announced that the State Bond Commission approved the release of $99 million in state funding to support the second round of grants under the Community Investment Fund 2030, a grant program established in 2022 to support economic development in historically underserved communities across Connecticut.

Included in the released funds is over $3 million for two projects in Stamford.

Utilizing $2.45 million, CIF will fund the construction of 39 new affordable, supportive housing units in a four-story, 38,833 square foot structure at 41-45 Stillwater Ave.

The project will provide a mix of one-bedroom, two- bedroom and three-bedroom units to serve individuals and families. Ground floor office space in the building will house Pacific House headquarters and case management services for tenants.

Lamont was in Stamford at the site late last month to highlight the project.

Additionally, just over $1 million will be used for West Side pedestrian safety and connectivity.

CIF funding will complete design and engineering for the city’s pedestrian infrastructure plan for pedestrian safety and mobility on the side streets of the West Side neighborhood.

These improvements aim to reduce speeding, add new crosswalks, increase tree coverage, improve pedestrian safety with raised crosswalks and bump outs, and enhance transit stop facilities in a neighborhood with the highest rate of pedestrian crashes in the city.

"The Community Investment Fund was established last year to improve the economic vibrancy of historically underserved neighborhoods," Lamont said in a news release. "Over the next several years, this program will be responsible for providing an incredible amount of opportunities for Connecticut’s cities and towns to revitalize their economic base and chart a path of equitable growth. Each of these projects supports this goal, and I am glad we’ve been able to get them approved."

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.

Overall, the second round of CIF grants supports 28 projects from 20 municipalities.