Connecticut’s Bond Commission on Thursday approved more than $1.4 billion in funding for various projects across the state.
The commission is responsible for approving state borrowing. It’s chaired by Gov. Ned Lamont (D) and has members from the General Assembly and other branches of state government.
Among the projects they approved are $3.8 million for upgrades at Rentschler field, $22 million for upgrades at various state prisons, and $291 million for transportation infrastructure upgrades.
Lamont said he’s watching the amount of money the state spends through bonding, but that they’re in a better position than when he assumed office in 2019.
“When it comes to bonding, we're trying to keep it at about, you know, 11%,” Lamont said. “A little better than where we were, you know, 5 to 10 years ago. But we got to watch things, because construction costs are going up dramatically, and we're doing a fair amount of infrastructure work, especially when it comes to transportation.”
Other approved bonds include $150 million for municipal grants and $3.8 million for upgrades at the Chief Medical Examiner's office.
Republican State Representative Joe Poletta (R-Waterbury), who is a member of the commission, says he’s not overly concerned with the amount they’re spending.
“I still think we're below the limit,” Poletta said. “You know, if we approach that limit, I would definitely raise a flag and probably oppose some items on the agenda. But we've still been significantly below the bond cap, which I'm glad about. And I'm thankful to the governor for keeping us below the bond.”
A full list of what was approved is here.
