Sec. 32-70e. Financial assistance for neighborhood development in enterprise zones.
Sec. 32-70e. Financial assistance for neighborhood development in enterprise
zones. (a) The Commissioner of Economic and Community Development shall establish
a program of financial assistance for job development and creation, neighborhood revitalization and the promotion of business stability and development within enterprise
zones designated under section 32-70.
(b) The Commissioner of Economic and Community Development shall solicit applications from community development organizations located within an enterprise zone
for the operation of such program. Applicants shall indicate a strategy to achieve neighborhood economic development in the enterprise zone.
(c) The commissioner shall enter into a contract with and provide grants, within
available funds, to qualified community development organizations to implement the
program established under this section and section 32-70f. The grant may be used to
pay the cost of activities that (1) assist in the expansion, retention and development of
small businesses located within enterprise zones that have trained and employed or will
train and employ, as part of their workforce, residents of an enterprise zone, (2) build
or rehabilitate decent or affordable rental or owner-occupied housing located in an enterprise zone or (3) assist organizations in job-training and career development training
for existing or projected job opportunities. The community development organization
may use such grant to provide grants, loans or deferred loans to eligible applicants.
(d) The Commissioner of Economic and Community Development shall adopt regulations in accordance with the provisions of chapter 54 to implement the provisions
of this section. Such regulations shall provide criteria for eligible applicants and eligible
activities.
(P.A. 94-195, S. 1, 3; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6.)
History: P.A. 94-195 effective July 1, 1994; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of
Economic Development with Commissioner and Department of Economic and Community Development.