by Hugh McQuaid CTNewsJunkie
The State Bond Commission closed out 2023 during a Friday meeting in which the panel approved more than $765 million in general obligation bonds including millions for security upgrades at houses of worship and HVAC improvements for schools across Connecticut.
The commission gathered in the Legislative Office Building for its fourth and final meeting of the year. In addition to general obligation bonds, the lengthy, 45-item agenda included nearly $900 million in revenue bonding and other transactions.
Among the projects approved this month were $150 million grants-in-aid for heating, ventilation and air quality projects at public schools. Gov. Ned Lamont, who chairs the commission and determines its agenda, stressed the air conditioning projects, which he said have become more necessary due to rising temperatures associated with climate change.
“Coming out of the hottest summer in history, we want to keep our schools open, keep them open safely during those shoulder months,” Lamont said. “This is a new expense. It just reminds — me, anyway– that you think the cost of dealing with global warming is expensive, you ought to see the cost of not dealing with global warming. This is the nature of some of the new investments we have to make.”
Friday’s HVAC bonding follows around $56 million awarded to school districts last year, Department of Administrative Services Commissioner Michelle Gilman said. The state denied a significant number of applications last year as a result of incomplete applications, she said, adding that better communication with districts should lead to more approved projects.
The borrowing for school projects had bipartisan support Friday.
“Particularly in our districts without air conditioning, it’s a real hardship and physical health threat,” Rep. Holly Cheeseman, R-East Lyme, said.
The commission also approved $5 million to fund security measures at houses of worship and other nonprofit locations. Though the state has funded similar projects in the past, Lamont said security at religious facilities has taken on more significance given a recent rise in hate speech.
“Hate speech can sometimes turn into hate crimes and we’re doing everything we can in the state of Connecticut to not allow that to happen,” the governor said. “These should be safe places where people feel safe and are safe.”
Meanwhile, the Commission approved an additional $35 million for the state’s Time to Own program, which helps first-time homebuyers by offsetting the costs of expenses like down payments. The panel approved $25 million to fund the program during its last meeting in October.
Following the meeting, Department of Housing Commissioner Seila Mosquera-Bruno said the initiative had already aided 2,574 families buy homes in the past year and a half. Another 600 families were in the process of using the program, she said. So far, the state has provided $97 million in forgivable loans to low-to-moderate income families with an average of $30,000 per family, she said.
Lamont praised the program as helping residents who wouldn’t otherwise have an opportunity to buy their own homes.
“What I love about it is when people own a home in their community they have more of a vested interest in their community and, I think, what that means in terms of pride and commitment to the community,” he said.
The commission replenished funds for the program as prospective homebuyers in Connecticut continue to contend with a housing market that has seen some of the steepest price increases in the nation, due in part to a limited stock of affordable housing.