(a) Connecticut Innovations, Incorporated shall post on its Internet web site an application form, prescribed by Connecticut Innovations, Incorporated, for planning grants-in-aid awarded pursuant to subsection (b) of this section. Such application form shall state that applications for planning grants-in-aid shall be submitted to the CTNext board.

(b) Any entity may submit an application for a planning grant-in-aid to the CTNext board. In addition to the initial round of applications, the CTNext board may accept such applications for consideration, on a schedule and in accordance with deadlines prescribed by the board, until the total amount authorized under this subsection has been awarded. The CTNext board may extend the deadline for a planning grant-in-aid for up to sixty days. The CTNext board may award planning grants-in-aid to applicants in an amount up to fifty thousand dollars per applicant. Such planning grants-in-aid shall be proportionate to the anticipated grant-in-aid described in § 32-39m. The total of all planning grants-in-aid awarded to applicants in the aggregate shall not exceed five hundred thousand dollars. A planning grant-in-aid awarded pursuant to this section shall be used by an entity for the preparation of an application for innovation place designation.

(c) Any entity may submit an application for innovation place designation to the CTNext board. In addition to the initial round of applications, the CTNext board may accept such applications for consideration, on a schedule and in accordance with deadlines prescribed by the board. Such applications shall be submitted on a form prescribed by the board and shall contain sufficient information to establish that the proposed innovation place is suitable for the purposes set forth in § 32-39k.

(1) Such application shall include: (A) Information concerning the proposed geographical boundaries of the proposed innovation place, including, but not limited to, a map indicating the boundaries of the geographic areas within the municipality that make up the proposed innovation place; (B) information concerning at least two anchor institutions located within the geographical boundaries of the proposed innovation place and how such anchor institutions have agreed to participate in the development of and activities within the proposed innovation place; (C) a summary of existing and proposed transportation-related infrastructure within and around the geographical areas within the municipality that make up the proposed innovation place; (D) a summary of existing and proposed businesses, recreational facilities, public parks and any other public or private gathering spaces located within the geographical areas within the municipality that make up the proposed innovation place; (E) information concerning the walkability of the geographical areas within the municipality that make up the proposed innovation place; (F) a master plan for the development of the proposed innovation place, including a plan for connecting the geographic areas within the municipality that make up the proposed innovation place to public transit via rail or bus, a plan for leveraging private investment and a proposed budget and timeline for use of any moneys granted by the CTNext board. Such budget shall indicate priority for the expenditure of grant funds in the event that moneys granted are insufficient to cover the costs of the entire proposed budget; (G) a list of municipal and state legislative action that may be required for the execution of such master plan; (H) a letter of support from the chief elected official of the municipality where the innovation place is proposed that shall include a statement that the legislative body of such municipality has, by majority vote, indicated its support for the proposed innovation place and for any municipal legislative action recommended in the master plan, provided a chief elected official may only submit a letter of support for one proposed innovation place located within the municipality; (I) letters of support from private investors; (J) information concerning consistency with the state plan of conservation and development adopted pursuant to chapter 297; and (K) information concerning the capability of the applicant and other entities partnering with the applicant to implement and administer the master plan and how such partners will be involved in the implementation of such plan.

(2) A master plan may include, but need not be limited to, (A) plans for: (i) Attracting and directing support to start-up and growth stage businesses; (ii) development, in collaboration with private partners, of a business incubator, coworking space, business accelerator or public meeting space; (iii) events and community building; (iv) marketing and outreach; (v) open space improvement; (vi) housing development; (vii) improvement of technology infrastructure, including, but not limited to, broadband improvement; (viii) bicycle paths; and (ix) attracting anchor institutions, and (B) community letters of support from persons or entities other than the applicant.

(d) The CTNext board shall screen all applications submitted to it pursuant to subsection (c) of this section and shall select therefrom a limited number of finalist applicants. The CTNext board shall hold at least one public hearing on each application submitted by a finalist applicant. Such hearing shall be held in the municipality where the proposed innovation place is to be located and shall consist of a presentation by the applicant finalist on its proposal and a public comment period. The CTNext board shall conduct a site walk of the geographic areas within the municipality that make up the proposed innovation place submitted by an applicant finalist. The chairperson of the CTNext board shall give appropriate notice of such hearing. The notice shall (1) state the time and place of the hearing to be held not fewer than ten days after the date of such notice, and (2) be posted in a conspicuous place in or near the office of the town clerk for the municipality where the proposed innovation place is to be located and posted on the Internet web site of such municipality, if available. Applicants may submit revised applications to the CTNext board based on public comments received at such hearing.