Hartford hoping for $45 million from new oversight board
HARTFORD — The city of Hartford is preparing to seek about $45 million in assistance now that a new state oversight board is in place.
Connecticut’s Municipal Accountability Review Board kicked off its first meeting on Friday. Created in the new state budget, the 11-member board was established to help financially distressed municipalities, such as Hartford, avoid insolvency and bankruptcy in exchange for greater accountability.
Hartford City Treasurer Adam Cloud says Friday’s meeting sets in motion Hartford’s application to become a Tier III city, eligible for advisory assistance and state loans and grants. Tier IV involves more state oversight of a municipality.
The Hartford City Council is scheduled to meet Monday to authorize Democratic Mayor Luke Bronin to apply for the assistance.
Hartford’s $611 million budget is $45 million in deficit.