70 Projects Awarded $112.9 Million to Reinvigorate Downtowns and Generate Economic Opportunity
Four Municipalities Awarded $33.6 Million for Special Projects That Will Transform Highly-Visible Blighted Property to Stimulate Community and Economic Growth
Governor Kathy Hochul today announced more than $112.9 million has been awarded to 70 projects through the Restore New York Communities Initiative. Restore New York supports municipal revitalization efforts across the state, helping to remove blight, reinvigorate downtowns and generate economic opportunity in communities statewide. 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.
"These Restore New York grants will help to reimagine downtowns across our state and transform vacant, blighted and underutilized buildings into vibrant community anchors," Governor Hochul said. "Thanks to a more than $146 million state investment, we are breathing new life into communities from Hudson to North Hempstead, jumpstarting new economic activity and helping ensure that New York State continues to be a place where people come to live, work and raise their families.
The Governor also announced more than $33 million has been awarded to four municipalities in this round for special projects. Special projects are awarded to municipalities where a highly visible and blighted property causes severe economic injury and has a depressing effect on the overall economic development potential of the community. This round's special projects include:
- The Town of Lyons in Wayne County will receive nearly $6.6 million for its Canal District project,
- The City of Auburn in Cayuga County will receive $8.5 million to renovate the former Bombardier facility,
- Ulster County will receive $10 million for renovations at iPark87, the former IBM campus, and
- Jefferson County will receive over $8.5 million for demolition of the former St. Regis paper mill in the Village of Deferiet.
Empire State Development President, CEO & Commissioner Hope Knight said, "The Restore New York Communities Initiative provides vital funding to help our municipal partners find creative ways to redevelop and transform neighborhoods into areas that uplift their communities after years of decay. Restore New York tackles urban blight head-on, allowing for new possibilities that spurs local economic development efforts for years to come."