The CIF will award up to $175 million each fiscal year. It will be awarded across two or more application periods per year.
The fund is a statewide program authorized in Section 32-285a of the Connecticut General Statutes.
These state entities work together to award CIF grants:
- The Department of Economic and Community Development (DECD) administers the program by overseeing the application process, vetting applications, sending application summaries to the CIF Board, and managing awards and reporting.
- The CIF Board and Office of the Governor review applications and the summaries prepared by DECD and make recommendations to the State Bond Commission.
- The State Bond Commission approves projects for grants.