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.
As Amended by Senate "B" (LCO 10645)
Senate Calendar No.: 526
Primary Analyst: EMG 6/9/21
Contributing Analyst(s):
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 See Below See Below
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 use, lease, or sell said parcels for economic
development purposes within five years of the conveyance. If sold,
proceeds from the sale are required to be deposited in the Special
Transportation Fund.
To the extent the parcel is sold, there would be a revenue gain to the
Special Transportation Fund equal to the fair market value selling
price of the parcel within the next five years (the asset was most
recently valued at $846,700) and a loss of asset to the town of Fairfield.
If not sold, the town could retain the asset through allowable use or 2021SB-01111-R01-FN.DOCX Page 2 of 2
gain potential revenue from allowable lease of the land. If not sold,
used, or leased appropriately within five years, the state would regain
use of the asset and the town would lose use of an asset.
Senate "B" expands allowable town use of the land and results in the
fiscal impact described above.
The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly,
solely for the purposes of information, summarization and explanation and does not represent the intent of the
General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety
of informational sources, including the analyst’s professional knowledge. Whenever applicable, agency data is
consulted as part of the analysis, however final products do not necessarily reflect an assessment from any
specific department.