DISBURSEMENT APPROVED FOR VERNON/ROCKVILLE MILL REHABS

I am happy to see quick approval of state funding by the state Bond Commission for two Vernon mill redevelopment projects. 

 The Talcott Brothers’ Mill and Loom City Lofts, previously known as Roosevelt Mills, were approved to received $4.4 million and $5 million respectively as part of the Competitive Housing Assistance for Multifamily Properties (CHAMP) program administered by the state Department of Economic and Community Development (DECD). However, Bonding Commission approval is a vital step in the process for accessing the funding and facilitating the ongoing phases of development.  

 I want to thank Governor Malloy and members of the Bond Commission for their expediency in getting these local projects on the bond agenda for rehabilitation as quickly as possible. It is a great economic investment in our communities and great news for taxpayers.  The sooner these properties are back on the tax rolls, the better.