The Commissioner of Economic and Community Development and the Secretary of the Office of Policy and Management may each, in consultation with the Commissioner of Transportation, use available funds, including bond funds made available pursuant to section 4-66c, to make grants or loans to (1) support transit-oriented development projects, as defined in section 13b-79o, and encourage the location of residential, commercial and employment centers near public transportation services; and (2) encourage the development and use of port and rail freight facilities and services, including trackage and related infrastructure. Nothing in this section shall be construed to limit the authority of the state to enter into agreements to facilitate transit-oriented development projects, as defined in section 13b-79o or 13b-79kk, on state property.