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With Credit Upgrade, Connecticut Begins Borrowing For More Projects

Courtesy of Pixabay

Connecticut’s bond commission approved borrowing about $340 million for state projects, including tens of millions to build more affordable housing.

They range from 10 units in Salisbury, in the state’s northwest corner, to more than 250 in the capital of Hartford. Governor Lamont said more affordable housing is good for the economy, for families and helps efforts to end homelessness.

“Over the last couple years, we’ve been pretty scrupulous about our borrowing. But that said, what I hope is on the back end of a pandemic with incredible needs out there and historically low interest rates, we have a more aggressive bond agenda,” Lamont said.

Moody’s upgraded the state’s bond rating last month — moving it into the high-quality category for the first time in 20 years. Treasurer Shawn Wooden said it’s great news for the state.

“We cannot leave behind those in the real economy on Main Street. There remains a lot of people struggling in our state, and not everyone is recovering at the same rate from this pandemic and economic downturn,” Wooden said.

State leaders also approved borrowing for economic development, brownfields remediation and the State Pier in New London, among other projects.

Copyright 2021 WSHU

Davis Dunavin loves telling stories, whether on the radio or around the campfire. He fell in love with sound-rich radio storytelling while working as an assistant reporter at KBIA public radio in Columbia, Missouri. Before coming back to radio, he worked in digital journalism as the editor of Newtown Patch. As a freelance reporter, his work for WSHU aired nationally on NPR. Davis is a proud graduate of the University of Missouri School of Journalism; he started in Missouri and ended up in Connecticut, which, he'd like to point out, is the same geographic trajectory taken by Mark Twain.

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SOMOS CONNECTICUT es una iniciativa de Connecticut Public, la emisora local de NPR y PBS del estado, que busca elevar nuestras historias latinas y expandir programación que alza y informa nuestras comunidades latinas locales. Visita CTPublic.org/latino para más reportajes y recursos. Para noticias, suscríbase a nuestro boletín informativo en ctpublic.org/newsletters.

The independent journalism and non-commercial programming you rely on every day is in danger.

If you’re reading this, you believe in trusted journalism and in learning without paywalls. You value access to educational content kids love and enriching cultural programming.

Now all of that is at risk.

Federal funding for public media is under threat and if it goes, the impact to our communities will be devastating.

Together, we can defend it. It’s time to protect what matters.

Your voice has protected public media before. Now, it’s needed again. Learn how you can protect the news and programming you depend on.

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