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Connecticut Approves $45M for Waterbury Redevelopment

HARTFORD, CT-The State Bond Commission approved a grant-in-aid package of $45 million for major downtown redevelopment projects in Waterbury, including a new 90,000-sf UCONN campus that is now under construction.

By John Jordan | Updated on June 02, 2002

HARTFORD, CT- The Naugatuck Valley Development Corp., will receive a $45 million grant-in-aid package from the State of Connecticut that will help in its $189 million redevelopment effort in downtown Waterbury.

The State Bond Commission approved the grant package on Friday, May 31. Almost half of the grant funding, $22 million, is earmarked for a new 90,000-sf University of Connecticut campus and garage in downtown Waterbury. Other projects that are part of the revitalization effort on East Main St. include the renovation of the historic Palace Theater, the construction of a new downtown arts magnet school and the new Spring Street Garage.

Governor John G. Rowland announced the $45 million in state funding for the initiatives in Waterbury on May 28. He noted, “Our goal from the start has been to transform downtown Waterbury into something vibrant and to improve the quality of life throughout the city. These projects will accomplish that goal and I’m proud to see them moving forward.”

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