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State officials describe Infrastructure Sustainability Fund as revolving municipal loan vehicle; committee asks about leverage
Summary
DHCD outlined the proposed $9,100,000,000 Infrastructure Sustainability Fund and said the administration intends to prioritize small communities and use the fund to leverage additional private and public financing rather than lend the entire principal directly.
Alex Farrell, commissioner of the Department of Housing and Community Development, presented a high‑level overview of the Infrastructure Sustainability Fund (ISF) during testimony to the House Committee on General and Housing on Feb. 21. He described the ISF as a municipal vehicle for low‑interest, revolving loans intended to support a range of infrastructure activities, with prioritization for smaller communities.
Farrell told the committee that eligible activities under the ISF would be broad…
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