ALBANY — Two of New York’s downtown-revitalization and economic-development programs have $200 million in funding available for those communities interested in pursuing grant money for local improvements. The dollar amounts include $100 million each for the eighth round of the Downtown Revitalization Initiative (DRI) and the third round of the NY Forward program, which focuses […]
ALBANY — Two of New York’s downtown-revitalization and economic-development programs have $200 million in funding available for those communities interested in pursuing grant money for local improvements. The dollar amounts include $100 million each for the eighth round of the Downtown Revitalization Initiative (DRI) and the third round of the NY Forward program, which focuses on revitalizing smaller and rural downtowns. Together, the two programs have awarded $1 billion in funding to 124 communities across every region of the state since 2016, the office of Gov. Kathy Hochul announced recently. Applications are available now through the state’s consolidated funding application portal, and the deadline to apply is Oct. 18 at 4 p.m. To receive funding from either the DRI or NY Forward program, localities must be certified under the governor’s Pro-Housing Communities Program, a policy designed to reward local governments that are “working to address New York’s housing crisis,” per Hochul’s office. Localities must have at least submitted a letter of intent to become a pro-housing community prior to applying for funding through DRI or NY Forward and must be certified before receiving an award through either program. “New York State is home to so many communities with rich histories and charm, and our Downtown Revitalization and NY Forward programs are helping to transform those communities into hubs of activity while retaining the characteristics that make them so unique,” New York Secretary of State Walter Mosley said in the announcement. “This $200 million in funding will help an additional 29 downtown communities turn their visions of revitalization into a reality, in turn spurring local and regional economies and strengthening all of New York State.”
About DRI
The DRI was launched in 2016 to accelerate and bolster the revitalization of downtowns and neighborhoods in all 10 regions of the state to serve as centers of activity and catalysts for increased local investments, Hochul’s office said. Led by the New York State Department of State, DRI communities benefit from partnerships with and coordinated technical assistance provided by the New York State Department of Housing and Community Renewal, Empire State Development (ESD), and the New York State Energy Research & Development Authority (OR NYSERDA). The DRI represents an “unprecedented and innovative ‘plan-then-act’ strategy that couples strategic planning with immediate implementation. For DRI round eight, joint applications of two to three contiguous communities in the same REDC region with a single unified vision will be accepted.
About NY Forward
First announced as part of the 2022 budget, Gov. Hochul created the NY Forward program to “build on the momentum created by the DRI.” The program, which is funded at $100 million in this year’s state budget, supports a “more equitable” downtown recovery for New York’s smaller and rural communities with a focus on hamlet and villages. NY Forward seeks to serve smaller communities and support local economies that “often have a feel and charm that is distinct” from larger, metropolitan urban centers funded through DRI. To date, NY Forward has awarded a total of $200 million to 43 communities over two rounds.