Connecticut House Bill HB05500

Connecticut 2012 Regular Session

• Introduced: 3/9/12
• Refer: 3/9/12
• Report Pass: 4/3/12
• Refer: 4/12/12
• Report Pass: 4/18/12
• Engrossed: 5/2/12
• Report Pass: 5/3/12
• Chaptered: 5/29/12
• Enrolled: 6/1/12
• Passed: 6/15/12

Caption

An Act Concerning An Adjustment To Certain Dates Relating To The Financing Of Steel Point In Bridgeport.

Impact

The bill specifically impacts state statutes by changing the deadlines and conditions under which financial assistance can be provided for the Steel Point project. By allowing this extension, the bill aims to stimulate economic growth and enhance property development in Bridgeport. It underscores the state's commitment to supporting urban redevelopment efforts and may lead to job creation and improved local infrastructure. Additionally, the bill sets the stage for further investments in the area, reinforcing the importance of this location in the economic landscape of Connecticut.

Summary

House Bill 05500 is an Act Concerning an Adjustment to Certain Dates Related to the Financing of the Steel Point project in Bridgeport. This bill amends previous legislation to allow for the extension of financial assistance from existing state programs aimed at enhancing property development and improvements at the Steel Point site. The new timeframe set forth in the bill runs from January 1, 2010, to June 30, 2015, with a cap on funding of up to forty million dollars to support these initiatives. The adjustments are seen as necessary to facilitate ongoing and future development within the area.

Sentiment

The sentiment surrounding HB 05500 appears to be generally positive, particularly among local stakeholders and proponents of economic development. Supporters view the bill as a vital tool for ensuring that resources are available for the Steel Point project, which is regarded as an opportunity for revitalizing Bridgeport. There is a recognition of the project's potential to benefit the community economically. While there are no significant recorded oppositions highlighted in the available discussions, the sentiment suggests a collective agreement on the importance of the project.

Contention

Although HB 05500 does not appear to have generated major points of contention, the underlying implications of financial assistance for specific developments can sometimes lead to debates around prioritization and resource allocation. Concerns may arise regarding the effectiveness of such funding and whether it will lead to substantial improvements or merely provide temporary financial relief. The additional stipulation related to the city council's option to merge the district into the city if no bonds are issued within a specified timeframe adds complexity to local governance and may draw scrutiny in future discussions.