The latest state budget agreement, reached last week, could help solve Hartford’s financial problems, but more work is needed to put the city on stable footing, Mayor Luke Bronin said Monday.
Lawmakers struck a deal that would give Hartford the extra $40 million it needs to avoid bankruptcy. Half of it would be funneled to the city from an account set aside for distressed municipalities.
The other half would come through a refinancing of Hartford’s debt. The state would assume at least $20 million of the city’s debt payments each year.
“It’s my understanding that the budget agreement reflects a bipartisan recognition that Connecticut needs a fiscally sustainable...