Connecticut General Statutes 32-604 – Feasibility and implementation study
(a) The Capital Region Development Authority shall conduct a feasibility and implementation study to determine the financial feasibility of the convention center project, as defined in subdivision (3) of § 32-600, and the sportsplex and the parking facilities, each as defined in § 32-651, which shall include, but not be limited to, consideration of proper planning, engineering, siting, cost of construction, revenue and expense projections and operation as a multipurpose facility or facilities.
Terms Used In Connecticut General Statutes 32-604
- Authority: means the Capital Region Development Authority created pursuant to §. See Connecticut General Statutes 32-600
- Capital city project: means any or all of the following: (A) A convention center project as defined in subdivision (3) of this section. See Connecticut General Statutes 32-600
- Capital region: means the towns contiguous to the city of Hartford, including the town of East Hartford. See Connecticut General Statutes 32-600
- Convention center: means a convention facility constructed and operated in the capital city economic development district, including parking for such facility, in conjunction with a privately developed hotel, including ancillary facilities and infrastructure improvements as more particularly described in the master development plan. See Connecticut General Statutes 32-600
- Devise: To gift property by will.
(b) The authority shall determine if the feasibility and implementation study clearly establishes, considering all relevant factors, the financial viability of (1) the convention center, (2) the sportsplex, (3) the parking facilities, or (4) any combination of the foregoing. The authority shall deliver the implementation and feasibility study, together with its determination as to financial viability, to the Governor for submission to the General Assembly as part of the master development plan pursuant to subsection (b) of § 32-654.
(c) The Capital Region Development Authority shall conduct a feasibility and implementation study to determine the financial feasibility of undertaking development and redevelopment projects to further the purposes of the authority, which shall include, but not be limited to, consideration of proper planning, engineering, siting, cost of construction, revenue and expense projections and operational costs.
(d) The authority shall monitor the progress of all capital city projects, projects in East Hartford and any project in the capital region and shall, on a regular basis, determine the extent to which each such project has, up to that point, met the purposes set forth in § 32-602. The authority shall report semiannually to the Governor and the General Assembly in accordance with the provisions of § 11-4a with respect to the operations, finances and achievement of its economic development objectives.
(e) The authority shall review and evaluate the progress of each capital city project and any project in the capital region for which financing is provided and shall devise and employ techniques for forecasting and measuring relevant indices of accomplishment of its goals of economic development, including, but not limited to, (1) the number of jobs created, or to be created, by or as a result of the project, (2) the cost or estimated cost, to the authority, involved in the creation of those jobs, (3) the amount of private capital investment in, or stimulated by, a project, in proportion to the public funds invested in such project, (4) the number of additional businesses created and associated jobs, (5) increased housing availability in downtown Hartford, and (6) the impact on tourism.