Empire State Development meetings

Part of Governor's Comprehensive Approach to Transform Communities into Vibrant Neighborhoods and Boost Local Economies Governor Andrew M. Cuomo today announced that Downtown Saranac Lake will receive $10 million in funding as the North Country winner of the third round of the Downtown Revitalization Initiative. As in the first two rounds of the DRI, one municipality from each of the state's 10 regional economic development regions is selected as a $10 million winner, marking another overall state goal to target $100 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods where the next generation of New Yorkers will want to live, work and raise a family. "Saranac Lake's unique downtown neighborhood and year-round appeal made it an ideal candidate for the third round of Downtown Revitalization Initiative funding," Governor Cuomo said. "Following the re-opening of the landmark Hotel Saranac, we are building on this momentum and helping downtown Saranac Lake reach its full potential, attracting both residents and visitors for generations to come." "The Downtown Revitalization Initiative is providing communities with funding to pursue local projects to enhance their downtowns and spur economic growth," said Lieutenant Governor Kathy Hochul. "This funding for Saranac Lake as part of the DRI will help to revive the historic village and develop new business opportunities, like the re-opening of the Hotel Saranac. The investment in new housing and rehabilitation of existing buildings in Saranac Lake will help to fuel activity and development of the entire North Country region. Read the full press release here.