OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
HB-6681
AN ACT CONCERNING THE CONVEYANCE OF A PARCEL OF
STATE LAND IN THE CITY OF HARTFORD AT 340 CAPITOL
AVENUE TO THE CAPITAL REGION DEVELOPMENT
AUTHORITY.
Primary Analyst: EMG 5/28/21
Contributing Analyst(s):
Reviewer: CW
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 22 $
Department of Administrative Services GF - Loss of Asset 571,000
Department of Administrative Services GF - Potential
Cost
See Below
Capital Region Development Authority (quasi-
public)
Resources of
CRDA - Gain of
Asset
571,000
Capital Region Development Authority (quasi-
public)
Resources of
CRDA - Cost
See Below
Note: GF=General Fund
Municipal Impact: None
Explanation
The bill conveys a parcel of land totaling approximately 1.25 acres
from the Department of Administrative Services (DAS) to the Capital
Region Development Authority (CRDA), which results in an asset
transfer (most recently valued at $571,000) at a cost to CRDA of the
administrative costs of the conveyance.
Should CRDA discontinue State access to the current parking lot,
DAS would incur the costs necessary to allow alternative parking
arrangements for those parking at the site.
The land conveyance is subject to the review and approval of the 2021HB-06681-R000762-FN.DOCX Page 2 of 2
State Properties Review Board. The asset would revert to state control
if the land is not developed for housing and economic development
purposes within ten years.