Lamont Administration Launches Community Investment Fund |

The Lamont administration announced a program to foster economic development in historically underserved communities across the state.

The 2030 Community Investment Fund is a five-year grant that will provide up to $875 million to eligible municipalities, as well as the nonprofits and community development corporations that operate there.

“Our administration continues to make historic investments to improve the economic vibrancy of our neighborhoods, with a focus on helping those who have been historically underserved access well-paying jobs and benefits,” said Governor Ned Lamont said in a statement.

Eligible projects include affordable housing improvements, brownfield remediation, infrastructure and public facilities.

Programs that help small businesses are also eligible, such as revolving loans, bridge financing, microloans and start-up financing.

“Fair, Fair, Impartial

The fund specifies that projects should promote “systematic fair, just and impartial treatment of all individuals, including those from underserved and marginalized communities.”

“We hope these communities will be innovative and forward-thinking in their plans, and the business community looks forward to being a partner in building a better future for the next generation,” said AABC’s Ashley Zane. .

“This program is what can help our struggling cities and towns rebuild and develop their main streets, as well as provide opportunities for small businesses, the backbone of our economy.”

Notice of funding availability and application materials are available now, and the deadline for submitting applications is July 25.

The Department of Economic and Community Development, which will administer the fund, will host a series of informational webinars to review the details and application process.

Jill E. Washington