Norwalk financing authority adopts bylaws to begin formation of Enhanced Infrastructure Financing District

The Public Financing Authority for the Norwalk Enhanced Infrastructure Financing District unanimously adopted bylaws and directed staff to prepare an infrastructure financing plan, the authority said at its inaugural meeting Tuesday.

Consultant Joseph Dieguez of Cosmont Companies told the authority that the tool is designed to ‘‘capture’’ a portion of future property tax growth in a defined boundary, pair the city’s set‑aside with a county match, and use the combined tax increment to pay for infrastructure and affordable housing. Dieguez said the draft boundary totals roughly 200 acres — just under 3% of the city’s land area and less than 2% of current assessed value. He said the current analysis shows an order‑of‑magnitude funding capacity of about $70,000,000 in present‑value dollars to address infrastructure needs over the district lifetime.

The infrastr…