Community Investment Fund 2030 - June 1, 2022 Alexandra Daum, Deputy Commissioner Matt Pugliese, Director, CIF
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Community Investment Fund 2030 June 1, 2022 Alexandra Daum, Deputy Commissioner Matt Pugliese, Director, CIF
AGENDA
• Overview of Program
• Timeline and Process to Apply
• Q&A
DISCLAIMER: The information provided herein is a summary of publicly available documents regarding the
Community Investment Fund (CIF) and should not be relied upon in lieu of the formal Notice of Funding Availability 2
and Program and Policy Guidelines documents which can be found on the CIF website.
ELIGIBLE
APPLICANTS
• Three categories of eligible applicants:
1. 54 municipalities which are designated as
Alliance Districts and/or Public Investment
Communities
2. Community Development Corporations
which operate within those municipalities
3. Non-profits which operate within those
municipalities
• Multiple applicants may submit a joint
application, provided that each
applicant is eligible.
3
ELIGIBLE
PROJECTS
Eligible projects must:
1. Promote economic or community
development in the municipality where
the project is located; and
2. Further consistent and systemic fair, just
and impartial treatment of all
individuals, including individuals who
belong to underserved and marginalized
communities
DISCLAIMER: The information provided herein is a summary of publicly available documents regarding the
Community Investment Fund (CIF) and should not be relied upon in lieu of the formal Notice of Funding 4
Availability and Program and Policy Guidelines documents which can be found on the CIF website.
PROJECT CATEGORIES
• Capital improvements – e.g., Brownfields
remediation, affordable housing,
infrastructure improvements
• Small business support programs – e.g., a
revolving loan program or start-up funding
to establish a small business
Minimum $250,000 of proposed CIF funding;
no limit to the request
DISCLAIMER: The information provided herein is a summary of publicly available documents regarding the Community Investment Fund (CIF) and should5 not be relied
upon in lieu of the formal Notice of Funding Availability and Program and Policy Guidelines documents which can be found on the CIF website.
PRIORITY
The CIF authorizing statute requires that the
following projects receive priority:
• The application includes a project labor agreement
or other employment proposal to employ ex-
offenders or individuals with physical, intellectual,
or developmental disabilities.
• The municipality has implemented local hiring
preferences pursuant to Section 7-112 of the
General Statutes
• The applicant has or will leverage municipal,
private, philanthropic, or federal funds for such
project.
• The application includes a letter of support from
one or more members of the General Assembly in
whose district the Project will be located.
DISCLAIMER: The information provided herein is a summary of publicly available documents regarding the Community Investment Fund6(CIF) and should
not be relied upon in lieu of the formal Notice of Funding Availability and Program and Policy Guidelines documents which can be found on the CIF website.
DECD AS ADMINISTRATOR WILL HIGHLIGHT
APPLICATIONS WHICH:
• Align with the state’s Economic Action Plan;
• Follow DECD best practices and represent an efficient
use of taxpayer funds
FOR SMALL BUSINESS SUPPORT PROGRAMS:
• The CIF Board is required to consider certain factors: the
risk of default on payment of proposed loans/financing;
the impact on job creation or retention; the impact on
blighted properties; and the overall impact on the
community
• DECD will assess proposals to make sure they align with
small business financing best practices. Per the statute,
financing programs that vary from the prevailing market
rate shall not be recommended for funding.
• An example of prevailing market rate terms would be the CT
Small Business Boost program
DISCLAIMER: The information provided herein is a summary of publicly available documents regarding the Community Investment Fund7(CIF) and should
not be relied upon in lieu of the formal Notice of Funding Availability and Program and Policy Guidelines documents which can be found on the CIF website.REVIEW
PROCESS
Eligible applicants submit applications via CIF website
DECD reviews applications for eligibility
•Ineligible applicants are notified
•Eligible applications are summarized by DECD and forwarded to the CIF Board
CIF Board reviews eligible applications and votes on
recommendations
Governor reviews recommended applications and issues final
recommendations for review before State Bond Commission
State Bond Commission issues approvals for projects
DISCLAIMER: The information provided herein is a summary of publicly available documents regarding the
Community Investment Fund (CIF) and should not be relied upon in lieu of the formal Notice of Funding 8
Availability and Program and Policy Guidelines documents which can be found on the CIF website.TIMELINE
DEADLINE to submit application July 25 at
11:59pm
CIF Board meeting to review and September 27
recommend applications
Governor expected to review and issue Early October
final recommendations for approved
projects
State Bond Commission meets to Issue (within two
Final Approvals months of Board
approval of
Governor-
recommended
projects)
9HOW TO APPLY
Applications are now open at https://portal.ct.gov/communityinvestmentfund/
Suggested application process:
1.Review Notice of Funding Availability
document in detail
2.Download copy of application forms and
prepare responses
3.Submit application materials via website
If you have questions about the application,
there are several options:
• Review FAQ page of website
• Sign up for one-on-one assistance via website
• Email communityinvestmentfund@ct.gov
10QUESTIONS
• Type your questions in the chat or
Q&A module.
• Email Questions to
CommunityInvestmentFund@ct.go
v
• Schedule 1:1 30 Minute Meeting
http://portal.ct.gov/communityinv
estmentfund
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