Promotes Revitalization of Communities by Redeveloping or Eliminating Blighted Structures
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Governor Kathy Hochul announced today that the Restore New York grant program will open on July 11. This $250 million program encourages community development and neighborhood growth through the elimination and redevelopment of blighted structures. Restore New York is open to municipalities to support projects that focus on demolishing, rehabilitating and restoring residential, commercial and mixed-use buildings. The program, administered by Empire State Development is designed to help local governments revitalize their communities and encourage commercial investment, improve the local housing stock, put properties back on the tax rolls and increase the local tax base. Grants will be awarded in two rounds this year, with $100 million available in the first round and $150 million available in round two.
"I have traveled to every corner of the state and have seen first-hand the potential that lies in so many of New York's blighted, older buildings," Governor Hochul said. "These spaces once had purpose and are now in need of funding and vision to breathe new life into neighborhoods. Restore New York funding gives localities the resources to transform abandoned and neglected properties, helping rebuild and strengthen communities across the state."
Empire State Development President, CEO and Commissioner Hope Knight said, "Restore New York gives municipalities the support they need to create real change in their communities, especially their downtown centers. By removing or rehabilitating eyesores that bring down a neighborhood, municipalities have opportunity to revitalize their community and generate new economic opportunities."
The goal of Restore New York is to help attract residents and businesses by redeveloping residential, commercial, and mixed-use properties. Each project should align with the regional strategic plan of the Regional Economic Development Council and projects should be either architecturally consistent with nearby and adjacent properties or consistent with the municipality's local revitalization or urban development plan.