Bill Text: CT HB05539 | 2014 | General Assembly | Comm Sub
Bill Title: An Act Concerning The Revitalization Of Housing In Distressed Municipalities.
Spectrum: Committee Bill
Status: (Introduced - Dead) 2014-04-10 - File Number 501 [HB05539 Detail]
Download: Connecticut-2014-HB05539-Comm_Sub.html
General Assembly |
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February Session, 2014 |
*_____HB05539PD____032514____* |
AN ACT CONCERNING THE REVITALIZATION OF HOUSING IN DISTRESSED MUNICIPALITIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsections (a) and (b) of section 4-66c of the 2014 supplement to the general statutes are repealed and the following is substituted in lieu thereof (Effective July 1, 2014):
(a) For the purposes of subsection (b) of this section, the State Bond Commission shall have power, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate one billion three hundred [fifty-nine] sixty million four hundred eighty-seven thousand five hundred forty-four dollars, provided [fifty] fifty-one million dollars of said authorization shall be effective July 1, 2014. All provisions of section 3-20, or the exercise of any right or power granted thereby, which are not inconsistent with the provisions of this section, are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with said section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization, which is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission in its discretion may require. Said bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on said bonds as the same become due, and accordingly as part of the contract of the state with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the Treasurer shall pay such principal and interest as the same become due.
(b) (1) The proceeds of the sale of said bonds, to the extent hereinafter stated, shall be used, subject to the provisions of subsections (c) and (d) of this section, for the purpose of redirecting, improving and expanding state activities which promote community conservation and development and improve the quality of life for urban residents of the state as hereinafter stated: (A) For the Department of Economic and Community Development: Economic and community development projects, including administrative costs incurred by the Department of Economic and Community Development, not exceeding sixty-seven million five hundred ninety-one thousand six hundred forty-two dollars, one million dollars of which shall be used for a grant to the development center program and the nonprofit business consortium deployment center approved pursuant to section 32-411; (B) for the Department of Transportation: Urban mass transit, not exceeding two million dollars; (C) for the Department of Energy and Environmental Protection: Recreation development and solid waste disposal projects, not exceeding one million nine hundred ninety-five thousand nine hundred two dollars; (D) for the Department of Social Services: Child day care projects, elderly centers, shelter facilities for victims of domestic violence, emergency shelters and related facilities for the homeless, multipurpose human resource centers and food distribution facilities, not exceeding thirty-nine million one hundred thousand dollars, provided four million dollars of said authorization shall be effective July 1, 1994; (E) for the Department of Economic and Community Development: Housing projects, not exceeding three million dollars; (F) for the Office of Policy and Management: (i) Grants-in-aid to municipalities for a pilot demonstration program to leverage private contributions for redevelopment of designated historic preservation areas, not exceeding one million dollars; (ii) grants-in-aid for urban development projects including economic and community development, transportation, environmental protection, public safety, children and families and social services projects and programs, including, in the case of economic and community development projects administered on behalf of the Office of Policy and Management by the Department of Economic and Community Development, administrative costs incurred by the Department of Economic and Community Development, not exceeding one billion two hundred forty-four million eight hundred thousand dollars, provided fifty million dollars of said authorization shall be effective July 1, 2014; and (iii) grants-in-aid to municipalities for a pilot program to provide loans to property owners for the revitalization of housing in distressed municipalities, not exceeding one million dollars.
(2) (A) Five million dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection may be made available to private nonprofit organizations for the purposes described in said subparagraph (F)(ii). (B) Twelve million dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection may be made available for necessary renovations and improvements of libraries. (C) Five million dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection shall be made available for small business gap financing. (D) Ten million dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection may be made available for regional economic development revolving loan funds. (E) One million four hundred thousand dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection shall be made available for rehabilitation and renovation of the Black Rock Library in Bridgeport. (F) Two million five hundred thousand dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection shall be made available for site acquisition, renovation and rehabilitation for the Institute for the Hispanic Family in Hartford. (G) Three million dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection shall be made available for the acquisition of land and the development of commercial or retail property in New Haven. (H) Seven hundred fifty thousand dollars of the grants-in-aid authorized in subparagraph (F)(ii) of subdivision (1) of this subsection shall be made available for repairs and replacement of the fishing pier at Cummings Park in Stamford.
Sec. 2. (NEW) (Effective July 1, 2014) (a) For the fiscal years ending June 30, 2015, June 30, 2016, and June 30, 2017, the Secretary of the Office of Policy and Management shall establish a housing revitalization program in distressed municipalities, as defined in section 32-9p of the general statutes, and in municipalities eligible to receive a community development block grant pursuant to the provisions of 42 USC 5301 et seq. The purpose of the program shall be to provide to persons who own residential property within such municipalities loans for the purpose of making home repairs, including, but not limited to, installing siding or other exterior finishes, replacing windows and replacing or repairing furnaces and roofs. Any available funds for the program shall be divided equally among the eligible municipalities.
(b) The chief executive officer of each eligible municipality that participates in the housing revitalization program shall designate a municipal officer or employee to administer the program. Such administrator shall make such loans available to persons who own residential property in census tracts (1) in which twenty-five per cent or more of individuals or families have income below the poverty level, as determined by the most recent United States census, as officially updated by the appropriate state agency or institution, and (2) identified by the municipality as suitable for the program. Any such loan shall be repaid by means of a special assessment placed on the residential property.
(c) To receive a loan pursuant to the housing revitalization pilot program, applicants shall submit an application to the administrator on a form approved by the secretary together with any documentation required by the administrator demonstrating that the applicant meets the eligibility criteria set forth in subsection (a) of this section.
(d) On or before February 1, 2017, the secretary shall make a report on the status of the housing revitalization pilot program, in accordance with the provisions of section 11-4a of the general statutes, to the joint standing committees of the General Assembly having cognizance of matters relating to local governments, housing and finance, revenue and bonding.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
July 1, 2014 |
4-66c(a) and (b) |
Sec. 2 |
July 1, 2014 |
New section |
PD |
Joint Favorable Subst. |