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Hartford budget hearing: no tax increase; $5M neighborhood investment, $6.5M homeownership push with $2M state match
Summary
At a city budget hearing, the mayor’s office outlined priorities including a balanced budget with no tax increase, a $5 million neighborhood investment fund for commercial corridors, and a $6.5 million city commitment to a homeownership pilot leveraging $2 million in state funds.
The mayor’s chief of staff, James Wolf, told the Operations Management Budget & Government Accountability Committee that the proposed fiscal plan would not raise residents’ property taxes and that the administration is prioritizing neighborhood investment and housing initiatives.
“This budget includes no tax increases for residents,” Wolf said, describing a budget he said was difficult to assemble given regional mill-rate increases. He highlighted a $5,000,000 neighborhood investment fund aimed at key commercial corridors and said the city plans to commit $6,500,000 to programs to increase homeownership in Hartford, leveraging an additional $2,000,000 in state funding for a Neighborhood Homes Investment Act pilot.
The Neighborhood Homes Investment Act pilot will be run by the State Department of Housing (DOH), Wolf said. DOH will work with community development financial…
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