Cuomo: $80M available in next round of Restore NY initiative

The next round will have $80 million in funding available to further New York’s rehabilitation efforts, the office of Gov. Andrew Cuomo said in a news release issued Thursday.

The program provides local governments with financial assistance to support economic development and “revitalize” neighborhoods and urban centers across the state, according to Cuomo’s office.

New York has allocated $395 million for the Restore NY program since its inception, including the funding available the fifth round. The funding has supported more than 200 projects focused on the “removal and restoration of blighted properties.”

“Communities across New York are making strategic investments to help grow our local economies, and through this latest round of Restore NY, our most vulnerable areas will receive the support needed to reenergize and develop once again,” Cuomo said in the news release. “I encourage local governments to apply for funding, as it supports the demolition and rehabilitation of blighted properties to improve our neighborhoods, entice new investment, and support a stronger, more prosperous New York for all.”

Cities, towns and villages are eligible to apply for funding to support projects that include demolition, deconstruction, rehabilitation, or reconstruction of vacant, abandoned, condemned, and surplus properties.

Recipients can use grants for site development needs that include water, sewer and parking.

The program places a “strong emphasis on projects in economically distressed communities,” Cuomo’s office added.

Application and related materials will become available online Sept. 15 at https://esd.ny.gov/restore-new-york.

The intent to apply deadline is Oct. 13 and applications are due Dec 15, according to the news release.

Empire State Development will host three informational workshops for municipalities interested in submitting a fifth-round application. They’re scheduled Sept. 25 at Proctors GE Theatre in Schenectady; Sept. 26 at Monroe Community College in Rochester; and Sept. 29 at Hofstra University in Hempstead.

Additionally, for those unable to attend any of the sessions, the state will conduct a live webinar on Sept. 25 at 10 a.m. To register, contact ESD at RestoreNY@esd.ny.gov.

Contact Reinhardt at ereinhardt@cnybj.com