While not directly related to Fairfield Hills, a newly announced Small Town Economic Assistance Program (STEAP) grant is expected to provide an additional $125,000 for the adjacent technology park development. The grant represents funds that would ha
While not directly related to Fairfield Hills, a newly announced Small Town Economic Assistance Program (STEAP) grant is expected to provide an additional $125,000 for the adjacent technology park development. The grant represents funds that would have otherwise been raised through local taxes or other means, according to First Selectman Herb Rosenthal.
A Wednesday morning announcement from Governor M. Jodi Rell and State Representatives Julia B. Wasserman and DebraLee Hovey indicated the State Bond Commission is expected to approve the $125,000 allocation to help Newtown develop the 72-acre technology park, half of which is designated as open space.
This is the second of two STEAP grants specifically for the tech park, Mr Rosenthal said.
âAn initial $275,000 was approved in April,â Mr Rosenthal said. âThen in June, we applied for and expected to get an additional $225,000. But we are certainly happy to receive the $125,000.â
The governor touted the award as part of an important partnership between the state and Newtown to boost economic development initiatives.
 âThe technology park will be developed on town-owned land for the purpose of bringing new economic [opportunities] to Newtown,â said Gov Rell. âMaking funding available for projects like this is an excellent example of the strong partnership between our state and local governments.â
This STEAP award was the latest in a long line of state grants and property that Rep Wasserman has helped secure for Newtown.
âThis project is very important to Newtownâs future. It will broaden the townâs grand list and provide tax relief to both residential and commercial property taxpayers,â said Rep Wasserman, who was responsible for getting the tech park land transferred to the town. âGovernor Rellâs support of this new technology park is another example of her goal to keep our economy healthy and growing.â
Rep Hovey said the funding could not have come at a better time.
âThe technology park grant will help create jobs and provide new revenues for Newtown,â she said. âIt underscores Governor Rellâs commitment to helping small towns secure their economic futures.â Â
A total of $20 million has been authorized for more than 100 small towns under the STEAP program this fiscal year. The Bond Commission is scheduled to meet Friday, October 6, at 10:30 am in the Legislative Office Building in Hartford to consider the latest round of grants for approval.