HARTFORD, Conn.-- Gov. Dannel P. Malloy has announced the launch of a new state bond pool specifically designated for nonprofit community-based organizations that provide health and human services through contracts or agreements with state agencies.
“Connecticut’s nonprofit organizations serve every resident of Connecticut and play a substantial role in maintaining our safety net. Partnering with our nonprofit organizations is a smart fiscal investment to ensure that these agencies can continue to provide services while doing so in an efficient, cost-effective way," Malloy said. "By supporting capital purchases that enhance service delivery, efficiency and effectiveness and addressing health, safety and accessibility issues, nonprofit agencies can focus on what they do best – getting services to those who need them most.”
The State Bond Commission is authorized to issue up to $20 million in bonding to support eligible projects, which are dependent upon the review and approval of the Office of Policy and Management (OPM).
Applications for the first round of funding must be received by Oct. 4, 2013. Guidelines and application instructions will be made available on the OPM and Department of Administrative Services websites.
Grant awards will be limited to generally no more than $1 million for any project or nonprofit provider per year, and typically should not exceed 25 percent of the annual amount of state and state-administered federal funding received through health and human services contracts or agreements.