CT HB05342

Expands the definition of "eligible applicant" for brownfield programs to include economic development agencies, and establishes a new definition of "economic development agency" encompassing municipal entities, nonprofits, and corporations formed to promote economic development.

Modifies the targeted brownfield development loan program to allow low-interest loans for affordable housing development (in addition to job-creating projects) and increases the maximum loan duration from twenty to twenty years with optional principal/interest forgiveness or repayment delays for municipalities and economic development agencies.

Establishes a pilot program allowing up to three development projects in distressed municipalities or enterprise zones that facilitate redevelopment of previously developed properties consistent with smart growth principles, with approval by the Governor and reporting requirements by February 1, 2013.

Extends liability protections under the brownfield remediation and revitalization program from eight to eight years for investigation and remediation completion, and allows municipalities and economic development agencies to apply for participation with fee waivers or reductions based on economic impact and community benefit.

Authorizes the Department of Economic and Community Development to use up to four percent of available brownfield funds for staffing, marketing, and website development, and increases the regional brownfield grant and loan fund authorization to $25,000,000.