NY invests $100 million to revitalize 10 downtowns across the state
ALBANY, N.Y. — New York has launched the $100 million Downtown Revitalization Initiative – a comprehensive approach to transform communities ripe for development into vibrant neighborhoods where the next generation of New Yorkers will want to live and work.
The program, first presented in Gov. Andrew Cuomo’s 2016 State of the State Address, will invest $10 million into ten downtown neighborhoods across the state. The downtown areas will be selected by the state’s Regional Economic Development Councils.
“A thriving downtown can provide a tremendous boost to the local economy,” Cuomo said. “This initiative will transform selected downtown neighborhoods into vibrant places for people to live, work and raise a family – which will also help attract new investments and businesses for years to come. The Regional Councils have been key to generating new opportunities for local economies, and I am excited to have them spearhead this new effort to build on that progress from the ground up.”
Former New York Secretary of State Cesar A. Perales will chair this initiative and lead the effort with a team of private sector experts and planners from the Department of State, with support from the Division of Homes and Community Renewal, as well as other state agencies. The state will assist selected municipalities in building strategic investment plans and identifying key projects consistent with the initiative’s goals.
Source: Gov. Cuomo’s office