Empire State Development meetings

Find meeting advisories, agendas, and materials related to key New York State development projects and initiatives. Click here for archived board materials.

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Public Notice

Tuesday, October 20, 2020 - 5:30pm
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Public Notice

Tuesday, October 20, 2020 - 5:30pm
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Public Notice

Tuesday, October 20, 2020 - 5:30pm
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Public Notice

Tuesday, October 20, 2020 - 5:30pm
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Public Notice

Tuesday, October 20, 2020 - 5:30pm
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Public Notice

Tuesday, October 20, 2020 - 5:30pm
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Public Notice

Tuesday, October 20, 2020 - 5:30pm
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Press Release

Friday, September 25, 2020 - 5:39pm
Former Masonic Temple Transformed into Mixed-Use Art and Community Space   Empire State Development (ESD) today announced the grand opening of the Sandy Hill Arts Center in the heart of downtown Hudson Falls, Washington County. The $2 million project rehabilitated and transformed the former five-story Masonic Temple on Main Street. The first floor houses an art gallery and a dance studio, while the rear of the building has available commercial restaurant space. The second-floor offices house the Council for Prevention, the third and fourth floors each have artists’ studios in the front, and a large two-story event space on the back, and the fifth floor is a large event space with a stage, elevator access, restrooms and event prep space.  ESD Acting Commissioner and President and CEO-designate Eric Gertler said, "Rehabilitating old buildings like the Hudson Falls Masonic Temple for adaptive reuse helps to preserve the character of our neighborhoods and downtown areas, while encouraging new investments and new energy to spur economic growth. Through the Restore New York program, we're proud to support this historic landmark's second act as an arts venue."   The 21,000 square foot building was built in 1901 and added to the New York State National Register of Historic Places in 1983 as a contributing building to the Hudson Falls Historic District. The Masons lost the building to foreclosure 1980s, and the property fell into disrepair in the following years. Hudson Falls was originally incorporated as the village of Sandy Hill in 1810 and renamed the following century.   The former Masonic Temple has been completely rehabilitated to ensure safety and structural integrity, while retaining the former temple's architectural design and character. ESD is supporting this project with a grant of up to $477,000, awarded to the Village of Hudson Falls through the Restore New York Communities Initiative in January 2017. Restore New York supports municipal revitalization efforts by awarding funding for projects that will reinvigorate downtowns and generate new economic activity. Cities, towns and villages were all eligible to apply for support for projects that include demolition, deconstruction, rehabilitation or reconstruction of vacant, abandoned, condemned and surplus properties.   Additionally, the developers are utilizing federal and New York State Historic Tax credits which, combined, are anticipated to bring an additional $400,000 of equity to the project upon approval from the National Park Service. Owners of income-producing real properties listed on the National Register of Historic Places may be eligible for a 20% federal income tax credit for the substantial rehabilitation of historic properties. The final dollar amount is based on the cost of the rehabilitation. The work performed must meet the Secretary of the Interior's Standards for Rehabilitation and be approved by the National Park Service. Owners of income producing properties that have been approved to receive the 20% federal rehabilitation tax credit automatically qualify for the additional state tax credit if the property is located in a federal census tract that is identified as a Qualified Census Tract.  Erik Kullesied, Commissioner of the Office of Parks, Recreation and Historic Preservation, said, "Congratulations to the team at the Sandy Hill Arts Center for the successful rehabilitation of the former Masonic Temple. This is the first Historic Tax Credit investment in Hudson Falls and we hope the completion of the project work serves to bring more attention to the available incentives for revitalizing the village’s historic buildings. Historic Tax Credits offer investors a sustainable tool for development and have been a driving tool behind reinvestment into our legacy communities across upstate New York."  Sandy Hill Arts Center owner William Nikas said, "Having grown up in this community and having had multiple ties to past occupants of this building, this project has been a labor of love for me. As far as the future of the building is concerned, I intend to create a non-profit foundation to assure its perpetual maintenance and the continuation of the mission to promote the arts in our community."  Senator Betty Little said, "A key defining quality that I’ve seen in successful communities—not only in my Senate district but throughout New York State—is the cultivation and promotion of the arts. That the Sandy Hill Arts Center, in partnership with Empire State Development and the Office of Parks, Recreation and Historic Preservation, is doing so while saving a very significant historic structure in downtown Hudson Falls makes this all the better."  Assembly Member Carrie Woerner said, "I'm excited to see the grnd opening of the Sandy Hill Arts Center. This public-private partnership represents a significant investment in downtown Hudson Falls. The rehabilitation and restoration of an historic building expands the economic opportunities for Hudson Falls as a destination for the arts. I'd like to thank Governor Cuomo for his support of this project, and his support for Historic Preservation Tax Credits to encourage investment in our downtowns."   Hudson Falls Mayor John Barton said, "I'd like to thank ESD for their continued support or projects like this that really help small villages like Hudson Falls. I'd also like to thank Bill Nikas for having the vision and courage to bring an old building in the heart of our Historic District back to life, and I'm excited for the future of the Sandy Hill Arts Center."    About Empire State Development  Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov.    Contact: ESD Press Office | [email protected] | (800) 260-7313 
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Press Release

Thursday, September 24, 2020 - 1:52pm
Previously Ineligible New York State Small Businesses Can Receive Low-Interest Working Capital Loans   Available to Small Businesses That Received PPP Assistance of $50,000 or Less   Empire State Development (ESD) today announced that Paycheck Protection Program (PPP) recipients are now eligible to receive low-interest loans from the New York Forward Loan Fund (NYFLF). This conditional change will provide the Fund's network of lenders and financial institutions with greater flexibility and enable them to provide more small businesses with working capital to cover expenses associated with reopening.   ESD Acting Commissioner, and President and CEO-delegate Eric Gertler said, "The coronavirus pandemic was an unprecedented challenge to the state’s business community, of which ninety-eight percent are small businesses. Providing assistance and opportunity – particularly to our state’s minority- and women-owned businesses – to help them reopen is essential toward revitalizing our economy and building New York back better."  When the NYFLF launched in May, the federal Small Business Administration had just issued rules regarding companies’ eligibility for federal assistance. The goal of the NYFLF was to help New York-based small businesses that did not receive PPP funding with flexible working capital to reopen and adapt to post-COVID needs. Companies with 20 employees or less make up 90% of New York’s business community, and it was critical to provide a funding lifeline to those businesses shut out of federal assistance.    However, some NYFLF applicants who needed assistance were deemed ineligible because they had already received PPP funds. Through discussions with lenders and applicants, it became apparent that PPP loans did not go far enough to support New York-based small businesses. Legislative criteria restricted how the government assistance could be spent, and oftentimes PPP amounts were a fraction of what was needed and requested.   Starting today, NYFLF Community Development Financial Institutions (CDFIs) will contact previously ineligible applicants to determine if they are still interested in funding and begin the underwriting process. This is limited to small businesses who received $50,000 or less in PPP assistance. The fund is prepared to process the new applications from this change while also working with existing applicants. Small business who did not receive any federal assistance are still eligible and encouraged to apply. Additionally, the program goal of providing at least 60% of loans to Minority- and Women-Owned Business Enterprises (MWBEs) remains, and that goal will not change due to the newly-expanded eligibility.   Eligible small businesses and small residential landlords can apply for a 60-month, no-fee loan with a 3% fixed interest rate; while eligible non-profits can apply for a 60-month, no-fee loan at 2% fixed interest. The maximum loan amount is $100,000. Loan funds can be used for working capital including payroll, operating and emergency maintenance, property taxes, utilities and costs associated with refitting physical space to follow social distancing guidelines. More information is available online at nyloanfund.com.  The five CDFIs processing applications are Accion East, Community Preservation Corporation, National Development Council, Pursuit and TruFund Financial Services. Seven banks have pledged support for the New York Forward Loan Fund: Apple Bank, BNB Bank, Evans Bank, HSBC, M&T Bank, Morgan Stanley and Wells Fargo. Additionally, the fund has received philanthropic commitments from the BlackRock Charitable Fund, Citi Foundation, Ford Foundation, and the Ralph C. Wilson, Jr. Foundation. The New York Forward Loan Fund was established with support from Calvert Impact Capital. The Local Initiatives Support Corporation (LISC) is administering the fund, and Connect2Capital is hosting applications.   About Empire State Development  Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov.   Contact: ESD Press Office | [email protected] | (800) 260-7313 
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Board Meeting

Tuesday, September 22, 2020 - 11:00am
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via teleconference. The public may listen to the meeting via webcast (audio) by clicking the link below on (or after) September 22, 2020 at 11:00 a.m. Members of the public may submit comments on the Agenda items in writing by 4:00 pm on Monday, September 21, 2020 to: [email protected] The Agenda and meeting materials will be posted the day before the meeting on LMDC’s website at www.renewnyc.com
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