Senate Leadership
September 27, 2006
Williams, Finch and Gomes Urge Governor to Release All Authorized Funds for Bridgeport's Steel Point Project
State Senate President Donald E. Williams, Jr. (D-Brooklyn) was joined today by Sen. Bill Finch (D-Bridgeport) and Sen. Edwin Gomes (D Bridgeport) in calling on Governor Rell to release all 2006 funding for Bridgeport's Steel Point project. $12.5 remains unallocated after the governor announced the state Bond Commission would approve $4 million at its October 6th meeting.
Sen. Williams wrote in a letter to Rell administration budget director Robert Genuario, "This entire $16.5 million is necessary to provide a total of $25 million for property acquisition, the fundamental first step of the project. To provide less than this amount will not allow the project to move forward and will likely increase costs in the future because of the delay."
The full $16.5 million is necessary in order to:
- Leverage private sector funds which can't be done until all the property is acquired
- Lock-in the price for purchasing property. The deadline for meeting the agreed upon price negotiated with the DPUC for the purchase of United Illuminating properties via eminent domain has past and unless site acquisitions proceed on-time, the cost for this property could increase.
- Break ground on time. Time is needed to do the legal transfers of property to the developers in order to break ground early next year.
Sen. Williams toured the Steel Point site today with the two senators from Bridgeport, Mayor John Fabrizi and project officials.
"The Rell administration is no different then the past administration in dragging its feet in giving critical aid to the City of Bridgeport, and if they are really different they should prove it by giving us all the 2006 funding," said Sen. Finch. "This project means everything to Bridgeport. It is the largest expansion of our tax base in the history of the city and it is just ridiculous the state can't come up with the necessary full funding."
"We need Steel Point and sufficient funding to get it going. It would be a benefit to this city to have these jobs, seeing as how good-paying jobs are very scarce in Bridgeport. And we need the tax revenue," said Sen. Gomes. "The governor should release the necessary funding for Steel Point that will get this project off its knees and standing tall for the people of Bridgeport."
Added Sen. Williams, "6,000 construction jobs and $900 million in related wages await this project, and that's before the 10,000 permanent jobs can be created. The full funding needed to proceed should be placed on the state Bond Commission agenda for the meeting scheduled for October 6."
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Senator Williams’ Larry Cook |
Listing of Leadership’s recent press releases. |
Senator Looney’s Larry Cook |
