Bridgeport Economic
Resource Center

Brownfields & Information Technology Projects Tax Incremental Financing

 These programs can provide up-front cash incentives for developers and companies to develop facilities on Brownfields sites or technology projects.  A wide array of projects may be eligible for program benefits.  This program is administered by the Connecticut Brownfields Redevelopment Authority (CBRA).  The municipality quantifies the annual incremental personal and real property tax revenues generated by the proposed Brownfields or information technology project.  The municipality determines the percentage of incremental tax revenues that it will allocate to the CBRA. The CBRA then sells bonds, the amount of which are based upon the allocation of incremental tax revenues and the bond repayment period. The proceeds of the bonds are then provided to the developer or business as an up-front cash incentive to invest in the project.   Further information can be found at CBRA - Connecicut Brownfields Redevelopment Authority - Grants for Redevelopment.

Special Contaminated Property Remediation & Insurance Fund (SCPRIF)

Eligible activities include:

Phase II Environmental Site Assessments
Phase III Site Investigations, including Remedial Action Work Plans
Building Lead and Asbestos Surveys (for demolition or rehab)
Lead Abatement and Asbestos Removal (for demolition only)
Demolition (full not partial)  

This program is administered by the State of Connecticut Department of Economic and Community Development.  Further information can be found at Department of Economic and Community Development-SCPRIF.

Bridgeport Economic Resource Center
10 Middle Street, Bridgeport, CT 06604
203-335-1108
mdallas@berc-ct.com