State Bond Commission Approves Funds For Southeastern CT Projects

NEW LONDON, CT — The State Bond Commission approved $8.988 million for projects in New London and Waterford.

The projects in question include new radios for Waterford’s first responders, redevelopment of key downtown buildings in New London, and reallocation of funds to support work at Seaside State Park in Waterford.

Additional approvals give final approval to Community Investment Fund grants that will aid Montville town planning, New London senior housing redevelopment and New London resources for addiction recovery.

“I’m grateful to the State Bond Commission and Governor Lamont for their support of our communities,” state Sen. Martha Marx said in a statement. “These funds will support important local projects, ranging from improved public safety in Waterford and important downtown redevelopment in New London, as well as updated work in Seaside State Park and final approval of several key local projects. I’m excited to see the benefits they’ll bring to our region.”

On Oct. 21, the State Bond Commission approved dozens of items supporting projects around the state. In Waterford, $500,000 will be allocated to support the replacement of the town’s public safety radio systems.

For New London, grant funding valued at $1.238 million will be reallocated from to the city to support The Day Devco, LLC, a subsidiary of High Tide Capital, for façade repairs, energy efficiency upgrades, and window and roof replacements.

High Tide Capital is a Maine-based development company that purchased the New London Day’s former buildings, along with several others adjacent to the Amtrak Station, and seeks to redevelop them for plans that include a potential 120-room hotel, apartments, and retail spaces.

Another $7 million in funding will support investments and improvements to Seaside State Park in Waterford. The funds were initially allocated via American Rescue Plan Act funding in 2023, but its funding source has shifted to a larger $30 million allocation for statewide improvements and repairs and new construction at various state park, forest, boat launch, and wildlife management areas approved by the Bond Commission this week, according to the statement.

Formerly home to a sanitorium, the state park is being converted into a passive recreation park, designed to remove deteriorated buildings, add restrooms, picnic areas and walking trails.

Three Community Investment Fund projects also received final approval in the bond agenda. These include $250,000 each for an investment plan on Route 32 in Montville, for planning for redevelopment of Gordon Court senior housing in New London, and to support the Southeastern Council on Alcoholism and Drug Dependence, Inc.’s planned New London Recovery Community for individuals in recovery on Colt and Reed Streets.