Bridgeport officials frown at mere millions for Steel Point project

Bridgeport is getting more money from the state for the Steel Point redevelopment project, but city officials say it is not enough. Governor Jodi Rell (R-NY) dedicated an additional $4.6 million to the

News 12 Staff

Sep 27, 2006, 11:36 PM

Updated 6,446 days ago

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Bridgeport officials frown at mere millions for Steel Point project
Bridgeport is getting more money from the state for the Steel Point redevelopment project, but city officials say it is not enough.
Governor Jodi Rell (R-NY) dedicated an additional $4.6 million to the previous $8.5 million in state money for the project. However, city officials say they can't start transforming the area until they get enough money to acquire three remaining properties. Rell insists that Steel Point has a mixture of public and private financing. She says the state's financial support should continue to encourage private investment.
Developers remain committed to the billion-dollar commercial and residential project. Currently, Bridgeport officials estimate a final $16.5 million will sufficiently fund the Steel Point development.


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