State Senator James L. Seward today announced that the Village of Dolgeville has been awarded more than $430,000 for the rehabilitation/restoration of several downtown buildings.
The grant money is part of the Restore New York’s Communities Initiative (Restore-NY), a program enacted by the state legislature to aid municipalities in rehabilitating or removing obsolete or rundown commercial and residential properties, making the sites attractive to residents and businesses searching for new investment opportunities.
"The Restore NY’s 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 Seward.
The properties include several North Main Street properties in Dolgeville, including the Rockwell property ($173,647); the Dolgeville Restaurant ($124,114) and the Staring property ($138,124).
"The restoration of properties like those on North Main Street 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."
The $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 will be awarded on a competitive basis to municipalities over the next three years to demolish or rehabilitate qualified commercial or residential structures, making these cleared or restored sites attractive to residents and businesses. The grants will be made available through ESDC in three rounds: $50 million in 2006-07; $100 million in 2007-08; and $150 million in 2008-09.
"The revitalization of our communities across New York State is an essential component of generating economic growth and new investment dollars," said Senator Seward. "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 www.nylovesbiz.com.