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Governor Hochul Announces $150 Million Mid-Hudson Momentum Fund to Grow Mixed-Use Housing and Infrastructure Projects Throughout the Region

Complements the New York Housing Compact - Governor's Proposal to Address New York's Housing Crisis and Build 800,000 Units in the Next Decade

Learn More and Receive Program Updates Here

Governor Kathy Hochul today announced details of the Mid-Hudson Momentum Fund, a $150 million funding initiative specifically for mixed-use housing and infrastructure projects throughout the Mid-Hudson Region, to help communities meet growing infrastructure needs in light of the recent, region-wide population increase brought on by the pandemic. Together, the Governor's budget proposals and the new Fund, to be implemented by Empire State Development, represent major commitments to the Mid-Hudson region that will increase the housing supply to meet growing demand and invest in key infrastructure projects in the region.

"As one of the most picturesque and historic areas in New York, the Mid-Hudson region has been a crown jewel for our state that has driven our economy and welcomed new residents and visitors for years," Governor Hochul said. "The new Mid-Hudson Momentum Fund will help to ensure that the region can continue to serve as a destination for families, workers, businesses, and tourists by helping to address the housing shortage, creating an equitable housing supply, and growing local infrastructure where communities need it most."

Empire State Development President, CEO and Commissioner Hope Knight said, "With the implementation of Governor Hochul's Mid-Hudson Momentum Fund, residents, employees and tourists will have more choices for where they choose to live, work and visit. The Fund will incentivize the development of much needed, mixed-use and infrastructure projects, improving the overall quality of life in the region."

Read the full press release here.