State Senator Hugh T. Farley (R, C - Schenectady) joined the Governor in announcing the cities of Amsterdam, Gloversville and Schenectady, along with the village of St. Johnsville, were awarded a combined $7.5 million in grants through the Restore-NY program (Restore New York's Communities Initiative), a program designed to aid municipalities in rehabilitating or removing obsolete or rundown commercial and residential properties, making these sites attractive to residents and businesses searching for new investment opportunities.
"The Restore NY Communities Initiative is a critical tool for creating additional economic development opportunities and improving the quality of life in communities throughout New York State," said Senator Farley. "The restoration of properties is a great first step toward improving not only the visual landscape, but it also generates optimism among residents, and helps to foster an environment that encourages job creation and the development of a strong future economy."
St. Johnsville is slated to receive $2.08 million for its industrial revitalization project that will aid in the demolition of a hazardous industrial building and the construction of a new facility for Cellect LLC.
Amsterdam will receive $2.5 million for the city's continuing efforts of rehabilitating and reconstructing a Brownfield site, also known as the Mohasco Redevelopment Project.
Gloversville was awarded $534,000 to raze the former First Baptist Church on South Main Street. City officials plan on using the space to create a 45-unit housing property.
Schenectady will obtain $2.5 million to help restore the Center City Sportsplex located in the downtown section of the city.
The three-year, $300 million Restore-NY Communities Initiative was established by the State Legislature in the 2006-07 State budget and is administered by the Empire State Development Corporation (ESDC). Grants are awarded on a competitive basis to municipalities to demolish or rehabilitate qualified commercial or residential structures, making these cleared or restored sites attractive to residents and businesses. Under the program, $50 million was distributed in 2006-07, $100 million announced today in 2007-08; and $150 million will be made available in 2008-09.
"The revitalization of our communities across New York State is an essential component to generating economic growth and new investment dollars," said Senator Farley. "This initiative gives businesses an incentive to locate here, allowing them to fully take advantage of the tremendous economic and geographic resources that our state has to offer."
More information regarding the Restore-NY initiative is available online at http://www.empire.state.ny.us/restoreNY/