The Connecticut Bond Commission approved borrowing $1 billion for infrastructure improvement on Thursday. That means tens of millions of dollars for long overdue local infrastructure and road repairs will soon hit the accounts of cities and towns in Connecticut.
By state statute the money should have been approved last year. So Governor Ned Lamont is assuring cities and towns that it will go out to them as fast as possible.
“We want to get that money out to municipalities as fast as we can. Given everybody’s cash positions and revenues. So it’s been held up for a while and it’s going out as fast as we can.”
Lamont had initially held up bond commission action pending legislative approval of his state transportation infrastructure funding plan. But Lamont shelved the plan after lawmakers refused to take it up.
The bond commission has approved borrowing $765 million for state transportation improvements including new rail cars for the Hartford and Shore Line East commuter rail lines.
