Sec. 32-616b. Agreement for renovation and reconstruction of XL Center.
124 words·~1 min read·
/ct/title-32/chapter-588x-capital-region-development-authority/32-616b·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Notwithstanding any provision of the general statutes, the authority may enter into one or more agreements for a project to renovate and reconstruct the XL Center. Any such agreement shall be entered into not later than December 31, 2025, except amendments thereto may be entered into after said date. Any such agreement or amendment shall be subject to the approval of the Secretary of the Office of Policy and Management.
(b)Any such agreement shall provide that the authority, the state, or a combination thereof, shall contribute not more than one hundred twenty-five million dollars and the contractor shall contribute not less than twenty million dollars toward the costs of any renovation or reconstruction of the XL Center occurring after January 1, 2023.