Hartford – Gov. Dannel P. Malloy announced today that state government is now accepting applications from small municipalities for its new grant program to finance improvements to town infrastructure and commercial centers.

The Main Street Investment Fund, created by the legislature last fall, offers grants of up to $500,000 to towns that have fewer than 30,000 residents or are eligible for Connecticut's Small Town Economic Assistance Program.

Towns can use the investment fund grants for a wide range of projects, including building renovations, better street lighting, new signs, recreational space or other uses "deemed necessary to contribute to the economic success of the municipality," according to the governor's office.

The program also provides financial incentives for the owners of commercial properties for certain expenditures that support and enhance a qualified town project.

"The Main Street Investment Fund will respond to the needs of small communities around the state by strengthening their commercial centers and creating lasting partnerships with the local merchants," Malloy said in a statement.

The State Bond Commission this month approved $5 million for the new program.

Municipalities can submit grant applications to the Office of Policy and Management until Sept. 28. More information is available at www.ct.gov/opm/mainstreet.