The Commissioner of Economic and Community Development shall establish the terms and conditions of any financial assistance provided pursuant to section 32-763 or section 32-765. The commissioner may make any stipulation in connection with an offer of financial assistance the commissioner deems necessary to implement the policies and purposes of section 32-763 or section 32-765, including, but not limited to, (1) a requirement of assurance from a grant or loan recipient that such recipient will discharge its obligations in connection with the project, (2) a requirement that a grant or loan recipient provide the department with appropriate security for such financial assistance, including, but not limited to, a letter of credit, a lien on real property or a security interest in goods, equipment, inventory or other property of any kind, and (3) a requirement that a grant or loan recipient reimburse the state for such financial assistance in the event that it receives funds for remediation from other sources.
(P.A. 13-308, S. 7.)
History: P.A. 13-308 effective July 1, 2013.
Structure Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 588gg - Brownfield Remediation and Development
Section 32-760. - Definitions.
Section 32-761. (Formerly Sec. 32-9cc). - Office of Brownfield Remediation and Development.
Section 32-762. - Brownfield remediation and development account.
Section 32-763. (Formerly Sec. 32-9kk). - Remedial action and redevelopment municipal grant program.
Section 32-765. - Targeted brownfield development loan program.
Section 32-766. - Terms and conditions of financial assistance.
Section 32-767. - Reimbursement for costs and expenses of assessment or remediation.
Section 32-768. (Formerly Sec. 32-9ll). - Abandoned brownfield cleanup program.
Section 32-772. - Board of directors.
Section 32-773. - Purposes. Powers.
Section 32-774. - Tax exemption.
Section 32-775. - Obligations re acquisition, ownership and transfer of real property.