State awards funding in third round of Regional Economic Development Council initiative

New York has awarded Central New York nearly $67 million, the Southern Tier almost $82 million, and the Mohawk Valley more than $84 million in the third round ofthe Regional Economic Development Council (REDC) initiative.

In addition, the state also awarded the North Country more than $81 million.

Gov. Andrew Cuomo today announced a total of nearly $716 million to New York’s 10 regions in a morning ceremony in Albany.

The funding for Central New York is “a good amount,” Robert Simpson, co-chair of the Central New York REDC, said during a conference call with reporters following the event.

Simpson, president and CEO of CenterState CEO, was in Albany for today’s announcement, he said.

CenterState CEO is regional business-leadership organization, chamber of commerce, and economic-development organization.

Of the $66.9 million for Central New York, $2.8 million is targeted for a project to convert the “long vacant” NYNEX building at 300 E. Washington St. near Syracuse City Hall into a mixed-use facility that will include apartments, office space, and retail businesses, according to the governor’s office.

In addition, $1.3 million is earmarked for the development of the Syracuse Inner Harbor, including relocating the historic freight house and removing three abandoned storage buildings, and constructing a 170,000-square-foot, mixed use commercial and residential building, the governor’s office said.

The Mohawk Valley’s award of $82.4 million includes $5 million for the city of Utica’s Harbor Point project, a new mixed-use development proposed along the Mohawk River; $3.2 million to continue development of the Marcy Nanocenter project by supporting required improvements to the project site; and $3.1 million to establish the Center for 21st Century Workforce Education & Innovation (C-21), a new workforce development and training center at the State University of New York Institute of Technology (SUNYIT) campus located within Quad-C at SUNYIT.

The Southern Tier’s award of $81.9 million includes $3.5 million for the Community Revitalization Fund to provide gap financing to encourage private investments in downtowns and main streets, and development of the region’s neighborhoods and rural population centers.

The North Country’s award of $81.3 million includes $6 million for infrastructure improvements to components of broadband to expand high speed, affordable service across the North Country region; and $2.1 million to continue the redevelopment of the former Mercy Hospital in downtown Watertown and transform the site into a mixed-use development with commercial, business and residential uses, according to the governor’s office.

Contact Reinhardt at ereinhardt@cnybj.com