Connecticut towns will get a chance to compete for a slice of $5 million in grants for purchasing undeveloped land for open space.

Gov. Ned Lamont announced this week that the state is set to approve the funding that will permit a new round of grants to begin under Connecticut’s Open Space and Watershed Land Acquisition Program. The initiative, administered by the Department of Energy and Environmental Protection, provides grants to municipalities, nonprofit land conservation organizations and water companies to acquire land and have it designated as open space.

The allocation has been placed on the agenda to be approved during next week’s meeting of the State Bond Commission on Dec. 18. Lamont serves as chairman of the commission.

“Our administration has set high goals to mitigate the effects of climate change and implement policies that better preserve our air, water, and natural resources,” Lamont said in a statement. “This program is an important component of preserving some of the best and most beautiful land in the world, and by partnering with our municipalities and nonprofits we can ensure that these valuable resources are preserved in perpetuity for generations to come.”

Projects under the program are awarded funding through a competitive application process. Awards are granted to projects that offer the highest conservation and recreational value and that leverage the greatest percentage of private and municipal funding.