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State To Commit $8.5 Million For Bridgeport Development

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State To Commit $8.5 Million For Bridgeport Development

BRIDGEPORT (AP) — The State Bond Commission will approve $8.5 million later this week to help Bridgeport buy land needed for the massive Steel Point economic development project, Governor  M. Jodi Rell said.

Rell, a Republican who heads the commission, said the state will also set aside another $750,000 to help pay for a multimillion dollar dredging project in Bridgeport Harbor. It is part of an effort to make the harbor a major New England container shipping center, taking traffic off Interstate 95.

“Bridgeport is going to be front and center in our efforts to revitalize Connecticut’s cities and create new jobs,” Rell said in a written statement. “The momentum of this city and this project is real.”

The $8.5 million will help the city buy additional land needed for the Steel Point project, which includes a mixed-use waterfront neighborhood with residential housing, a retail center, waterfront restaurant and entertainment facilities, office space, a hotel and conference center, a marina and yacht club. It also calls for a public esplanade along the waterfront.

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