SB 463 — AN ACT CONCERNING AN ANALYSIS OF THE AVENUES TO MAXIMIZE THE VALUE OF CERTAIN STATE-OWNED REAL PROPERTY.

Senate General Assembly RaisedFile Bill No.

463566 February Session, 2022 LCOSubstitute Senate Bill No.

3625463 ReferredSenate, toApril 21, 2022 The Committee on FINANCE,Finance, REVENUERevenue ANDand BONDINGBonding Introducedreported by:through SEN.

(FIN)FONFARA ANof ACTthe CONCERNING1st ANDist., ANALYSISChairperson OFof THEthe AVENUESCommittee TOon MAXIMIZEthe THEpart VALUEof OFthe CERTAINSenate, STATE-OWNEDthat REALthe PROPERTY.substitute bill ought to pass.

AN ACT CONCERNING AN ANALYSIS OF THE AVENUES TO MAXIMIZE THE VALUE OF CERTAIN STATE-OWNED REAL PROPERTY.

(Effective July 1,2022)(a) The state shall,consistent withand supportive of the goals of promoting the health, welfare and safety of the people of the state and increasing their quality of life, boosting tourism, stimulating the economy and enhancing the ability of people to enjoy the Connecticut River, seekassess the benefits and opportunity costs to redevelopthe city of Hartford and to the state-ownedstate of the current use of the state- owned property located at 233 Maxim Road in the city of Hartford, identified as parcel 333077003.

To further such redevelopmentassessment and identify the related costs, the Capital Region Development Authority created pursuant to section 32-601 of the general statutes shall conduct an analysis ofto anyestimate the benefits of, obstacles thatto wouldand preventrelated orcosts hinderof maximizing the redevelopmentvalue of saidthe property andfrom identifythe development of alternative uses of the mostproperty, prudentincluding avenuescommercial, toresidential mitigateand suchsSB463 obstacles./ File No.

566 1 sSB463 File No.

566 recreational opportunities.

LCO(1) No.Identification of any federal, state or local governmental obstacles to the development of alternative uses of the property, the possible avenues to remove each such obstacle and the associated costs of pursuing each avenue;

3625(2) 1Identification of 3any Raisedenvironmental Billobstacles No.463to (1)the Identificationdevelopment of anyalternative federal,uses stateof orthe localproperty, governmentalincluding obstaclesthe toconducting theof redevelopmentany required testing of the property,site, and the possible avenues to remove each such obstacle and the associated costs ofto pursuingrender eachthe avenue;property environmentally developable;

(2) Identification of any environmental obstacles to the redevelopment of the property, including the conducting of any required testing of the site, and the possible avenues and associated costs to render the property environmentally developable;

On and after July 1, 2022, the Connecticut Airport Authority shall not enter into any agreements or incur any obligations that would further encumber the property or that would prohibit or impinge theconversionthedevelopment of suchalternative propertyuses fromof its current use or the site'sproperty. future development.

(e) Not later than January 1, 2023, the authorityCapital Region Development Authority shall submit a report of the findings of the study to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding.

(Effective July 1, 2022) The sum of one million five hundred thousandsSB463 dollars/ isFile appropriated to the Department of Economic and Community Development from the General Fund, for the fiscal year ending June 30, 2023, for the Capital Region Development Authority to LCO No.

3625566 2 ofsSB463 3File Raised Bill No.

463566 thousand dollars is appropriated to the Department of Economic and Community Development from the General Fund, for the fiscal year ending June 30, 2023, for the Capital Region Development Authority to produce the report under section 1 of this act, which shall include the engagement of consultants to conduct the analysis required under said section.

2 July 1, 2022 New section Statement of Purpose:Legislative Commissioners:

ToIn requireSection an1(a), analysis"to" towas beinserted conductedbefore by"the thestate" Connecticutfor Regionalclarity Developmentand Authority"the ofcity theof" obstacleswas toinserted andbefore opportunities"Hartford" for theconsistency redevelopmentwith ofstandard certaindrafting state-ownedconventions, realand propertyin andSection provide1(e), an"authority" appropriationtoproducetherequiredreport,includingtheengagementwas ofchanged consultantsto for"Capital suchRegion analysis.Development Authority" for clarity.

thatFIN whenJoint theFavorable entireSubst. text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.] LCO No.

3625sSB463 3/ ofFile 3No.

566 3 sSB463 File No.

566 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.

In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.

Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.

OFA Fiscal Note State Impact:

Agency Affected Fund-Effect FY 23 $ FY 24 $ Department of Economic & GF - Cost 1.5 million None Community Development Note:

GF=General Fund Municipal Impact:

None Explanation The bill appropriates $1.5 million for the Capital Region Development Authority to produce a report that analyzes the benefits and opportunity costs to the city of Hartford and the state of the Brainard Airport property.

The bill requires CRDA to include consultants in conducting the analysis.

sHB 5037, the revised FY 23 budget bill, as favorably reported by the Appropriations Committee, is under the spending cap by $4.6 million in FY 23.

The appropriation contained in the bill would result in the budget being under the spending cap by $3.1 million in FY 23.

The Out Years The cost of the analysis is one-time only in FY 23.

sSB463 / File No.

566 4 sSB463 File No.

566 OLR Bill Analysis sSB 463 AN ACT CONCERNING AN ANALYSIS OF THE AVENUES TO MAXIMIZE THE VALUE OF CERTAIN STATE-OWNED REAL PROPERTY.

SUMMARY The Office of Legislative Research does not analyze Special Acts.

COMMITTEE ACTION Finance, Revenue and Bonding Committee Joint Favorable Substitute Yea 27 Nay 23 (04/05/2022) sSB463 / File No.

566 5