Hartford Business Journal

www.HartfordBusiness.com May 23, 2016 • Hartford Business Journal 5 Future of Hartford's Old State House in question The state's budget woes have left the future of a historic downtown Hartford landmark in jeopardy. The state budget recently passed by the House and Senate in special session — and awaiting Gov. Malloy's signature — has cut funding to, and shifted oversight of, the Old State House, a national historic landmark since 1960. The budget requires the Office of Legisla- tive Management (OLM) to lease or sublease the Old State House to the state Department of Energy and Environmental Protection (DEEP) for $1. As a result, DEEP will take over management of the iconic Hartford monument, whose roots date to 1796. The city-owned facility was previously overseen by the Connecticut Historical Society and city, until the state took over management in 2008, after financial diffi- culties nearly led to the attraction's closure. Since then, the state has handled the facil- ity's security, maintenance and other opera- tions, and contracted with the Connecticut Public Affairs Network (CPAN), to run the educational and community programming. DEEP spokesman Dennis Schain said his agency is still assessing how it will man- age the Old State House. Under the original 2016-2017 budget, OLM had $589,589 ear- marked to run the building. About $400,000 has been transferred to the Department of Energy and Environmental Protection, but even with that allocation, DEEP's overall general fund budget has been cut about 11 percent to $63.9 million, meaning the agen- cy is being asked to provide more services with less funding. "We do believe the funding we have been provided [for the Old State House] is likely less than what was being used," Schain said, adding it's too early to tell what operational changes may occur at the facility. Is there a risk the Old State House could be shuttered? "Given the budget reductions we will need to live with, it is likely there will be some changes in days and hours of opera- tions at the Old State House," Schain said. "As for a total closure, it's too early to rule anything out, but I'd say that is less likely." Schain said DEEP, which didn't ask to take over management of the building, does have experience overseeing the state's 109 state parks and state-park museums, whose opera- tions will also be challenged by budget cuts. William Bevacqua, a spokesman for CPAN, said his organization is taking a wait- and-see approach with Old State House's future. CPAN receives about $500,000 annually from the state to oversee Old State House's educational and community programming, which has been effective in gradually increasing attendance, especially among school groups, Bevacqua said. The building had 47,522 on-site visitors in 2015, compared to 24,740 in 2014, Bev- acqua said. "We understand budget issues may make operations of the Old State House a chal- lenge going forward," Bevacqua said. "We are looking to explore all funding opportu- nities with DEEP. … Everyone who is part of this transition understands the importance of the building to Connecticut's history." – Greg Bordonaro Angel investor tax credit extended Connecticut's angel investor tax credit, which was set to expire July 1, has been extended by three years, through July 1, 2019. State lawmakers approved the exten- sion as part of their $19.76 billion budget hatched recently in special session. The credit, which is available through the state's quasi-public venture arm Connecticut Innovations Inc., applies against the per- sonal income tax and equals 25 percent of the amount taxpayers invest in technology- based businesses, up to $250,000. State law also allows investors to sell, assign or transfer all or part of the credit to other taxpayers. – Greg Bordonaro PDS has been meeting the needs of the construction industry since 1965. Our dedicated team of design and construction professionals welcomes the challenge of serving its past and future customers on their most demanding projects. Webster Bank | Bridgeport and Norwalk, CT PDS Engineering & Construction served as General Contractor for two new free standing bank facilities for Webster Bank in Fairfield County. The Bridgeport branch included mechanical, electrical, plumbing, millwork, ceramic floor & tile, metal fabrication, rough carpentry, doors & hardware, aluminum framed entrances, and gypsum board. The Norwalk branch required heavy site work and demolition to remove the original apartment building maintained on the property. Combined Project Size: 9,000 SF 107 Old Windsor Road, Bloomfield, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com DESIGN BUILDERS • GENERAL CONTRACTORS • CONSTRUCTION MANAGERS SPOTLIGHT ON: Banking & Finance PDS ENGINEERING & CONSTRUCTION, INC. THINK • PLAN • BUILD State lawmakers have cut funding to Hartford's Old State House, raising questions about its financial future. REPORTER'S NOTEBOOK H B J P H O T O | G R E G B O R D O N A R O Subscribe online: HartfordBusiness.com/ subscribe Delivering Business. When you need information to grow your business, we deliver! Subscribe today to receive weekly issues in print and digital, plus special publications and full online access!

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