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State Bond Commission Gets Ready To Approve $722.3M In Borrowing

by | Jul 24, 2014 5:30am () Comments | Commenting has expired | Share
Posted to: State Budget, Taxes, State Capitol

Christine Stuart photo Restoring the stained glass skylights at the state Capitol is just one of the many items on Friday’s state Bond Commission agenda.

An estimated 304 stained glass panels were removed from the 5th floor skylights on the east and west side of the state Capitol in June. The panels were crated and are ready to be shipped for restoration. The total cost of restoring the skylights, which began falling down in 2008, is about $800,000.

Christine Stuart photo There’s another $3.15 million on the Bond Commission agenda to help restore the skylight and repair the William A. O’Neill Armory’s roof. That project also will receive about $1.15 million in federal funds.

However, those projects are some of the least expensive on the $722.3 million agenda.

There’s $474.6 million for a variety of transportation projects, which will be paid for with special obligation bonds.

“The scope of work will depend upon the project’s design and final costs will be based upon bids received,” according to the agenda. “However, the Department of Transportation is requesting the flexibility to revise or modify projects, if required, within specific subsections of the Act.”

There’s another $30 million that will be used to help municipalities fund their road repaving programs. It’s the first of two installments for the program. Another $5.4 million will be used to help purchase highway and bridge renewal equipment like dump trucks, loaders, backhoes, snow removal equipment, and specialized bridge maintenance equipment.

There also is $15 million for the Small Business Express program. None of the businesses receiving the loans are detailed in the agenda, but the Department of Economic and Community Development Commissioner is supposed to report to the General Assembly every six months about which businesses received funding.

About $17.4 million will be used to assist eight inter-district magnet schools with capital startup and expansion as required by the Sheff v. O’Neill settlement.

The Mark Twain House and Museum is expected to receive $2.2 million for a variety of projects, including drainage improvements and parking lot repairs. The Harriet Beecher Stowe House and library will receive $650,000 for for interior restoration and a fire suppression system.

Another $3 million will be used by the Department of Housing to set up a low-interest loan program for homeowners and businesses in coastal flood areas to help them flood-proof and wind-proof their homes or businesses. Loans of up to $300,000 will be provided for a term of 15 years with no principal or interest for one year, according to state officials.

There’s another $1 million for the dredging of the Mystic River auxiliary channel, which will improve access to one of the marinas.

Goodwin College in East Hartford could receive $3.75 million to help it equip its manufacturing, dental hygiene, and ophthalmic programs.

The Bond Commission also will look to help New Haven by paying for the surprise environmental contamination the city found when it was cleaning up Bowen Field. The state plans to give the city $4.8 million to help rid the parcel of the PCBs (Polychlorinated biphenyls) found in the caulk joints of the bleachers and in the paint on the exterior of the locker room.

There is another $1.5 million that will be used to construct a new golf learning center, a nature learning center, and other improvements in Norwalk. Earlier this month, House Minority Leader Lawrence Cafero, who has been critical of the state’s borrowing, praised Gov. Dannel P. Malloy’s decision to put the item on the agenda.

The state Bond Commission is scheduled to meet at 10:30 a.m. on Friday.

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(10) Archived Comments

posted by: dano860 | July 24, 2014  8:10am

...and we have a surplus!? Something doesn’t compute here?
I was talking with a good friend last week, who also happens to be a long time State Senator, about all of the bonding / borrowing and his comment was, Dannel believes that borrowing $3M to pay off $2M leaves you with a $1M surplus, huh?

posted by: SocialButterfly | July 24, 2014  2:14pm

“Borrowing” is continuing to be Connecticut’s big downfall
making us a national leader in deficit debt. “Red ink” is Gov. Malloy’s favorite deficit blinding fiscal color, a big reason not to vote for for him.

posted by: Bluecoat | July 24, 2014  10:28pm

Maybe it’s time to pay the Governor and State Legislature in Bonds? That way when we default on everything they are personally responsible.
Also I think we need to institute the Glen Reynolds “revolving door surtax” for State Employees or unelected officials who leave a government job for one in the private sector.
They would be required to pay a 50% surtax on the difference between their State job and the new salary, say for a period of three years

posted by: Bluecoat | July 24, 2014  10:33pm

I need a need a new roof, chimney repair, bath and kitchen upgrades, plumbing problem that needs attention, and a list of many items that need attention at my house, can I call my legislator and get something slipped in just for me? nope, instead all I get are the lousy tax increases and story after story of “first five deals” that launder money right back to the Democrats and unfortunately republicans too,  that don’t have any balls to fight back.
Oh and by the way, what ever happened to fiscally conservative democrats? Have you all died?

posted by: Bluecoat | July 24, 2014  10:35pm

Anyone know where the 325 just reported unattended. Illegal Aliens were sent to here in CT?
Any chance this borrowed money goes to help more than this 325?

posted by: GBear423 | July 25, 2014  6:43am


Bluecoat, that is a great idea on the payroll being bonded and the surtax. The Fiscally Conservative Democrat went extinct during the late 90s to early 2000s.  If there is an example of a democrat cutting spending and borrowing to balance a budget or at least shrink a deficit in the last decade, I am totally unaware of it. I suppose it happens at town/municipal level, but not at State or Fed. The platform appears to be cradle to grave entitlements and services.

posted by: GBear423 | July 25, 2014  6:52am


Oh wow, this in the Courant: 
State Grants $4 Million to Hartford Science Center… 

“State officials said that some of the center’s expansion plans include creating more educational lab space, transforming one portion of the existing building into a greenhouse and butterfly conservatory, and paying off debts related to the center’s heating, cooling and ventilation systems.”

Perhaps they should Grant enough to simply upgrade their heating and ventilation system that apparently is inadequate.  Seriously, do they even realize the State is in some economic peril?? Hand me a shovel, this hole ain’t deep enough!!

Link: http://www.courant.com/news/connecticut/hc-ct-science-center-money-0725-20140724,0,7451384.story

posted by: SocialButterfly | July 25, 2014  9:37am

Bluecoat:  Fiscally conservative Democrats have died.  The have been replaced with bankruptcy driven leaders like Pres. Barack Obama and dedicated deficit spending followers like Gov. Dannel Malloy.

posted by: SocialButterfly | July 25, 2014  9:42am

Bluecoat:  Paying the governor and legislature with bonds would be difficult. It’s much easier to just vote them out of office.

posted by: SocialButterfly | July 25, 2014  1:10pm

Some of this bonding is disheartening. Does Malloy and his cronies have a conscience?

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