Several items approved today by the state Bond Commission will benefit the Greater Danbury area.
In New Milford, Dakota Partners will receive a $4.2 million loan to help with construction and rehabilitation of East Street Apartments. The project contains 30 affordable rental units. The loan will be provided at 1-percent for 30 years. The project is costing $11 million in total and will be offset by $6.2 million in Low Income Housing Tax Credits and $720,000 in CHFA financing.
Weston is receiving $256,000 in bond money for ADA and other code improvements at the town library. The grant will cover approximately half of the total estimated cost of the project, with the remaining funds being bequeathed to the library by a late Weston resident. Representative John Shaban called ibraries a priceless public resource. In such difficult economic times, he says he is pleased to be able to help secure some return from the state for needs of the district.
Phone line repairs and electrical system improvements will be made at Southbury Training School with $225,000 in state bond money.