Geneva- State Senator Michael F. Nozzolio (R,C-Fayette) today announced that the City of Geneva has been awarded $530,000 for the Enterprise Development Center and rehabilitation of Dove Block. The grant money is part of the Restore New York’s Communities Initiative (Restore-NY), 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’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 Senator Nozzolio. “The restoration of properties in Geneva is a great first step towards 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 City of Geneva will receive $350,000 for the Enterprise Development Center. The City will use the funding to convert the abandoned American Can building into commercially leased space for business development. Due to the older, deteriorating building conditions, 79,000 square feet at the site are currently unable to be leased. This funding will rehabilitate the building to allow more business tenants.
In addition, Geneva will receive $180,000 to revitalize downtown commercial areas through façade, commercial and housing rehabilitation. The restoration is part of an ongoing redevelopment program for buildings in Geneva with significant historic architecture.
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 to generating economic growth and new investment dollars,” said Senator Nozzolio. “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.