The state, acting by and in the discretion of the Connecticut Port Authority, may enter into a contract with a municipality, or any federal or state agency acting on behalf of such municipality, for state financial assistance in the form of a state grant-in-aid for a harbor improvement project pursuant to section 13b-55a, provided such project is approved by the authority. Any such application for state financial assistance under this section shall be submitted by the authority to the Commissioner of Energy and Environmental Protection for said commissioner’s review. Said commissioner shall submit a written report to the authority, setting forth said commissioner’s findings regarding such application.