Since 2005 a $40 fee has been collected by town and city clerks for the recording of all documents into municipal land records.
These include: deeds, mortgages, mechanic's liens, judgement liens, notices of lease, releases of mortgages and liens, name change certificates, notices of variance, and condominium declarations.
Under the Connecticut Community Investment Act, the funds raised through the $40 fee are distributed in the following way: town clerks retain $1 for record management and related costs, local governments retain $3 to help fund local capital improvement projects, and the remaining $36 is remitted to the State Treasurer's office to be distributed among 4 state agencies- Historic Preservation, Affordable Housing, Agriculture, and Open Space.
The fund puts money toward preserving and reusing historic buildings and sites, saving hundreds of farms and supporting agriculture programs, saving fields and forests from development, and building much-needed affordable housing.
The Connecticut Community Investment Act funding stream is separate from the regular budget so that the money SHOULD be there in tough times. It is a trust fund for important purposes.
In the past decade, $152-million has been invested in Connecticut. The Community Investment Act has funded nearly 14,000 projects in every single town and city across Connecticut. It has created more than 5,000 jobs for Connecticut crafts-people, contractors, researchers, conservationist, farmers, and more!
It is often targeted for sweeps because of what looks like "uncommitted funds" but are actually land deals and grants that take longer to conclude.
WE NEED YOUR HELP TO KEEP THIS DEDICATED FUND FROM BEING ELIMINATED.
In 2011, the Community Investment Act was threatened but remained intact. Unfortunately in 2016, it was not as lucky. The $25 million a year generated was targeted for diversion to the Connecticut General Fund. There was a 50% cut to the Community Investment Act. Then in 2017, the Community Investment Act faced an additional 1 million dollar sweep.
The fund remains intact under the recently passed 2017-2018 budget, but there is a $5-million sweep over a two-year period.
This forward-thinking legislation was the brainchild of the now retired Senate President Donald E. Williams, Jr. with very active support from a broad coalition of advocates. Today, bi-partisan support exists among legislators. The Connecticut Community Investment Act Coalition THANKS YOU for supporting the single most effective tool in the state. The programs supported by the Community Investment Act funds have leveraged private investment and created jobs in EVERY community in the state.