OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-1111
AN ACT AMENDING A CONVEYANCE OF A PARCEL OF STATE
LAND IN THE TOWN OF FAIRFIELD.
Primary Analyst: EMG 5/28/21
Contributing Analyst(s):
Reviewer: CW
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 22 $
Resources of the Special Transportation Fund TF - Potential
Revenue Gain
Up to
846,700
Department of Transportation TF - Gain of Asset Potential
Note: TF=Transportation Fund
Municipal Impact:
Municipalities Effect FY 22 $
Fairfield Loss of
Asset
846,700
Explanation
The bill modifies a conveyance from SA 01-6 section 23 from the
Department of Transportation to the town of Fairfield and specifies
that the town must sell said parcels for economic development
purposes within five years and deposit the proceeds of the sale in the
Special Transportation Fund.
To the extent the parcels are sold, there would be a revenue gain to
the Special Transportation Fund equal to the selling price of the parcel
within the next five years (the asset was most recently valued at
$846,700, though there is no requirement in the bill to sell for fair
market value). If not sold, the state would regain use of the asset.
The modifications of the conveyance require the town of Fairfield to 2021SB-01111-R000768-FN.DOCX Page 2 of 2
lose use of the asset, whether through sale in the next five years or
through reversion to state control after five years.