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On Friday, Commission Expected to Approve $6M Loan to New Britain for ‘Magic Busway’ Development

April 11, 2018 By Staff
On Friday, Commission Expected to Approve $6M Loan to New Britain for ‘Magic Busway’ Development

The Bond Commission is meeting on Friday, and is expected to approve a $6 million loan, backed by taxpayers, to develop space near CTfastrak stations in New Britain.

Gov. Dan Malloy (D-Conn.) may be one step closer to new development around his cherished CTfastrak project.

The Hartford Courant reported:

State leaders this week are expected to approve a $6 million loan for Columbus Commons, the multistory apartment and retail complex planned for downtown.

Two developers have broken ground on the first phase of what would become the biggest new development spurred by CTfastrak.

…Gov. Dannel P. Malloy’s administration is eager to display proof that CTfastrak was worthwhile, and [Mayor Erin] Stewart’s Republican supporters embrace it as evidence that her administration is rebuilding the city.

The approval of the loan would be consistent with Malloy’s continued celebration of the project opponents have derisively called the ‘magic busway.’ Reclaim Connecticut reported that Malloy celebrated the three-year anniversary of the system in March, even as a GOP leader pointed out that the buses are often “empty.”

Among other recent bond items approved by the state:

  • Taxpayers are backing a $10 million project to renovate a Hartford soccer field
  • …and a $1 million loan to an aquaponic fish farm that will use fish waste as nutrients for vegetables, which a non-profit will then sell.