Issue link: https://nebusinessmedia.uberflip.com/i/977214
www.HartfordBusiness.com • May 7, 2018 • Hartford Business Journal 5 Hartford bailout sparks schism over impact on state's debt limit The battle over the state's bailout of Hartford, and its impact on Connecticut's credit card, is heating up. While state Treasurer Denise Nappier, a Hartford Democrat, called the deal "a non- issue" when it comes to the state's debt limit, the other state official who OK'd the deal — Gov. Dannel P. Malloy — disagrees, and wants lawmakers to fix the matter now. Meanwhile, Republican state legislators continue to press to reduce other state aid to Hartford after 2019 to offset the debt assistance. And if Connecticut does have to scale back borrowing to abide by its debt limit, House Minority Leader Themis Klarides says, then projects for Hartford should be the first to go. Under the agreement, Connecticut would pay off the city's $534 million in outstanding bonded debt and interest. The state is expected to retire this debt over 20 to 30 years, depending on how Hartford officials renegotiate their obligations with bondholders. Interest charges will depend on those negotiations. Klarides and many other legislators assert the agreement went beyond the level of aid lawmakers approved in the new state budget enacted last October. Keith Phaneuf | CT Mirror CT's March home prices hit 5-yr high Connecticut's homes and condos posted their biggest leap in median sales price in five years in March amid a decline in sales, a housing-market tracker says. The median sales price for a single- family home in this state rose 7.8 percent in March to $248,000 vs. $230,000 a year earlier, according to the latest report from The Warren Group, Boston publisher of The Commercial Record. The Greater Hartford Association of Realtors recently reported a similar trajectory in median prices for central Connecticut houses in March — up 7.1 percent to $224,900 vs. $210,000 in March 2017. "March saw the largest median single- family home price gain since September 2013," said Warren Group CEO Timothy Warren. "Inventory of homes for sale is falling and the tight supply is pushing up the median price. Prices held steady for the past two years, but the most recent two months show remarkable upward movement." According to Warren Group's statewide survey, 2,012 single-family homes were sold statewide in March, down 9.7 percent from 2,229 homes sold the same month a year earlier. New Spanish restaurant opens in Hartford's Goodwin Hotel A new Spanish-style restaurant has opened its doors in Hartford's Goodwin Hotel led by Bravo TV's "Top Chef," Tyler Anderson. Porron & Pina, a tapas- style eatery, features a wine room offering 60 selections and a cocktail bar serving a variety of gins and local draft beers. The menu allows patrons to order several dishes in a group, or order a la carte Spanish steakhouse- style dishes. Located at 1 Haynes St., the eatery is replacing the Harlan Brasserie, which closed in November, and will employ up to 65 people, Anderson has said. The restaurant is the third owned by Anderson, who also operates Millwright's Restaurant & Tavern in Simsbury, which opened in 2012, and the Cook & The Bear in Blue Back Square in West Hartford, which opened in 2017. Tyler Anderson, Co-Owner, Porron & Pina A look at the decorations and booths inside the newly opened Porron & Pina restaurant in Hartford. PHOTO | CONTRIBUTED AVA I L A B L E I M M E D I AT E LY H i g h B ay Wa re h o u s e S p a c e Find out why Amazon, Walgreens, Dollar Tree, Domino's, Eaton, Westinghouse, FedEx, Pepsi, UPS and Tire Rack all chose to locate within central Connecticut's premier industrial market D D63,000DSFDavailableDD D D32'DclearDheightD D DAuxiliaryDtrailerDparkingD D DEasyDaccessDtoDBradleyD Interna onalDAirportDandD theDI-91,DI-84DandDI-90DD corridorsD D DMasterDplannedDfirstDclassD industrialDparkDwithDFTZD &DBradleyDDevelopmentD ZoneDbenefits 330 Stone Road Windsor, CT 860-286-7660 www.griffinindustrial.com