Bridgeport officials looking at ways to fund new soccer stadium that could run $100 million
BRIDGEPORT — With state investment uncertain, Andre Swanston
and his Connecticut Sports Group, the
developers behind the proposed new soccer stadium, are working with city
officials on an additional funding mechanism to help get the venue built.
More specifically they would obtain permission from the
Connecticut General Assembly to employ tax increment financing (TIF), using a
portion of any new real estate taxes generated by the lower East Side
redevelopment to pay off some of the construction debt, rather than those
revenues going straight into Bridgeport's coffers.
"TIF is one of the options Connecticut Sports Group is
evaluating, as new (tax) funds can be allotted for public infrastructure
improvements, community facilities, environmental remediation and affordable
housing," a Sports Group spokesperson confirmed in a statement.
Thomas Gaudett, a top aide to Democratic Mayor
Joe Ganim, said "the city is enthusiastically supportive" of
the idea.
"This financing model is an effective way for municipal
government to facilitate development and growth ... with a project of this
magnitude," Gaudett continued. He added it is "way too early in the
process" to get into the actual agreement terms.
First stop is the state legislature, which must allow
Bridgeport to establish a special taxing district encompassing where Swanston
wants to erect the stadium — as well as housing, a hotel, retail and restaurant
space — in
a project that he unveiled in late 2023. That land is the privately owned,
containing the former Winners Shoreline Star off-track betting facility and
the municipally-owned
former AGI rubber factory. Those properties are off of Stratford
Avenue and Kossuth Street, just on the edge of downtown along the Pequonnock
River between Interstate 95 and the harbor.
"Once we get authority from the state ... a fair
agreement will be reached that will be sufficient to fund the public
infrastructure while also increasing the current tax base," Gaudett said.
"But no details have been discussed yet."
Tax increment financing will also supposedly reduce, though
not eliminate, Swanston's and Connecticut Sports Group's need for a so far
publicly-unspecified amount of state aid, an additional
subsidy that has previously
received a lukewarm reception from Democratic Gov. Ned Lamont.
"The TIF would allow for the city to do some of the
lifting instead of the state," said state Rep. Antonio Felipe,
D-Bridgeport, who helps represent the East Side. "It makes the price tag
lower for the state." Which, Felipe continued, will hopefully win over
more converts at the Capitol building in Hartford.
"TIF is a necessary step toward getting what we
ultimately want, which is state investment on top of that for the
stadium," he said.
While the developers have so far repeatedly declined to talk
actual numbers, documents from early 2024 showed
the soccer facility's budget to be $96.2 million. State officials last year
awarded a total of $16 million toward helping cover the clean-up of
environmental contamination, specifying that should the stadium not move
forward those targeted properties will be shovel-ready for other redevelopment.
Meanwhile Connecticut Sports Group this past February said
Swanston's entire vision, including the housing, hotel and retail
components, amounts
to "an investment of over $1 billion — overwhelmingly privately
funded."
Should the new taxing district be formed, it will be located
across Stratford Avenue from the Steelpointe taxing district, established over
two decades ago to cover through taxes over $190 million worth of roadwork,
utilities and other infrastructure needed for that ongoing redevelopment
effort. Connecticut Sports Group and Gaudett in their responses to this
story both cited Steelpointe as an example of a successful taxing district.
One of the big questions is how long the stadium will need
to benefit from any similar tax increment financing subsidy? The Steelpointe
agreement was approved in 2012 and currently lasts until 2052.
Bridgeport's City Council is in
the midst of contemplating extending that expiration date to 2072 because,
while substantial progress has been made overall with retail, restaurants and a
new marina in place, it has taken longer than anticipated for the housing and
hotel pieces to get built and because the interest rate is lower for
longer-term, 30 to 40-year borrowing.
So while an extension of 20 years will save money on
interest, it also potentially means it will be that much longer before
Bridgeport can collect the full real estate taxes on Steelpointe if the
infrastructure debt is not fully paid down before 2072.
Supporters of TIF argue that without such a mechanism to
give private developers a boost, unused land remains fallow with no new taxes
generated, so getting even just some of those new revenues is better than the
status quo.
"By creating a TIF district on the East Side, the city
would receive more taxes than we receive today (from the Shoreline Star and AGI
sites) while also creating the infrastructure needed for a new soccer stadium,
housing and commercial developments and waterfront access," Gaudett said.
Bridgeport City Councilman Scott Burns is co-chair of that
all-Democrat local legislative body's budget committee. He at a meeting last
week on pushing back the Steelpointe TIF deadline urged colleagues not to go as
far out as 2072. But in an interview for this article Burns said he is
generally open to supporting some form of tax increment financing for
Connecticut Sports Group.
"In general TIF is a pretty good tool," he said.
"So I think the circumstances where you've got an abandoned dog track and
are going to have to make some major changes, it seems like a rationale way to
go."
State Rep. Christopher Rosario, D-Bridgeport, leads the
city's delegation in the Connecticut legislature and also represents the East
Side. He agrees with Felipe that using TIF for the stadium project
"reduces the exposure" of the state's sinking taxpayer funds into it.
Rosario said the specific bill language is still being
worked out but will possibly be part of an unrelated bid to set up a
taxing district in East Hartford.
"We're probably going to join our efforts," he
said, adding getting a soccer stadium TIF proposal approved before the General
Assembly adjourns June 4 will likely be easier than obtaining a commitment for
more state dollars for the sports venue.
"I'm very optimistic," Rosario said. "Nothing
in that legislature is easy by any means. That's probably the smoother
road."
Darien Metro-North Railroad train station construction delays push finish 10 months to March 2026
DARIEN — Renovations on the Darien Metro-North
Railroad train station will not be completed until next year after
multiple setbacks, according to First Selectman Jon Zagrodzky.
Construction
has been ongoing on extensive renovations
on the downtown station, with upgrades including platform replacements on
both sides, new hydraulic elevators and the state’s first electrically heated
train platform, which would help the town avoid salting for ice in the winter.
However, the project has been set back by multiple delays,
pushing the completion date, originally set for this upcoming May, to spring of
next year.
The eastern platform’s replacement is now slated to finish
by the end of August and the entire project, barring any unforeseen delays,
would likely wrap by March 2026 according to Zagrodzky.
The estimated cost of the project, which is state funded, is
now closer to $40 million, Zagrodzky said. The cost was originally estimated at
$34 million, with the delays adding about $6 million the cost.
One of the setbacks stems from production delays on the
electric panels intended for the heated platform, which Zagrodzky said are
difficult to manufacture.
Construction also reportedly ran into unexpected
infrastructure when digging trenches for the electrical supply that would power
the heated platform. Workers also found the demolished remains of a 19th
century building that had been paved over, Zagrodzky said, which they then had
to excavate to install the electrical infrastructure.
Workers also had to fix the damage to the train station itself. In the time lapsed between platform repairs — last replaced in 2003, Zagrodzky said — years of salting created even worse damage than anticipated, affecting not just the platform but the structure’s foundation too.
Despite the delays, Zagrodzky said the train station “really
should look terrific by the time they’re finished.”
“After having met with the construction team and the
leadership earlier this week, I’m confident that they’re on top of this,”
Zagrodzky said. “They’ve also committed to keep us informed about any further
delays, which I’ll report back to you when I hear about them.”
CT Bond Commission to consider this week $10M for Enfield Square
HARTFORD — The state Bond Commission will meet on Friday to
vote on a series of allocations for projects in northeastern and north-central
Connecticut, including a
$10 million allocation to begin the revitalization
of Enfield Square.
Commission members are likely to give final approval of a
$10 million allocation approved by the Community Investment Fund board last
month.
The funding would jump start the ambitious $250 million
proposal to redevelop the Enfield Square
mall into a mixed-use property complete with a variety of retail, recreational,
and residential units.
Last month, CIF board members praised the proposed project,
dubbed Enfield
Marketplace, saying it could be transformative for the region and the state
as the outdated indoor mall model is dying.
Other CIF funding to be considered is more than $1.2 million
for renovations to River Street School in Windsor, and $250,000 for Park
Hill in East Windsor.
A total of $19 million for grants and improvements to
various magnet schools will also be considered, funding that would help pay for
roof repairs, boiler replacements, and HVAC upgrades, among other projects.
Windsor's Academy of Aerospace and Engineering High School
would receive more than $3 million, and Computer Science and Engineering High
School in Enfield would get about $1.2 million
Schools in East Hartford, Glastonbury, and South Windsor
would receive between $710,000 and $335,000.
A total of about $32.6 million is slated for planning and
designs for additions and renovations to the Valley
Laboratory in Windsor.
The funding would be used to add programming and carbon
reduction efforts at the lab, which was established in 1921 to investigate
cigar wrapper tobacco production and disease control.
More than $10.3 million is being considered for various
projects undertaken by the Connecticut
Port Authority. If approved, East Hartford would receive more than $1.5
million for boat ramp facilities.
Commission members will also vote on a total of $19 million
for various alterations and improvements to the state's 12 community
colleges, Charter Oak College, and the system office buildings and grounds.
Projects would include restoration of academic and support
facilities; upgrading safety, security, and other building systems; and
exterior grounds improvements.
An additional $11 million could be allocated for similar
projects at state universities.
Commission members are also expected to vote on reallocating
more than $170,000 for a grant to East Hartford for designs of a parking garage
on East River Drive, adjacent to Founders Plaza.
The funding is what remains of financing for the Port
Eastside project in town, and would be diverted to the parking garage
project.
Significant investments in affordable
housing are also on the commission's agenda for Friday.
Items include a total of $135 million to finance loans for
housing projects and programs under the Flexible Housing Program. Funding would
be use to finance new construction and rehabilitation of more than 800 housing
units and existing housing projects.
A first-time homebuyer assistance program, Time-To-Own,
would receive $35 million to provide loans to eligible buyers to fund up to 25%
of the cost of a home, up to $25,000. An additional $5 million could be
approved for improvements to homes that were purchased through the same
program.
Build for CT, a financing program aimed at incentivizing
developers of market rate multi-family properties to create units that are
affordable to middle income households, would also receive $50 million.
Commission members will also vote on about $150 million for
clean drinking water projects and $171 million in grants to cover the state's
share of various school construction projects throughout the state.
Some signs with Biden's name being removed from DOT projects under new orders
Ken Dixon
New standards from the Trump administration have led the
state Department of Transportation to take down large signs around Connecticut
sites that were funded by the Bipartisan Infrastructure Law of 2021, removing references
to former President Joe Biden, who signed the $1.2 trillion act.
While allowing green signs without Biden's name to remain in
place at dozens of project sites, white signs, about six-feet by four-feet,
containing Biden's name have been ordered removed.
Josh Morgan, communications director for the DOT, said
Monday that at the time of the law called the Infrastructure Investment and Jobs Act, which Biden
signed in November of 2021, signage requirements under the U.S. Manual on
Uniform Traffic Control Devices called for large green signs to be placed along
highways and roadways without Biden's name. There were also guidelines for
similarly sized white signs bearing Biden's name near transit projects.
"These were were largely 'ceremonial' in nature," Morgan said in a
statement.
Morgan estimated that "a handful" of signs with
Biden's name have been removed from project areas, while the green signs are
being left in place, for the time being.