Senator Kenneth P. LaValle today announced that local municipalities can apply for Round 3 of Restore NY's Communities Initiative grants beginning February 9, 2009. "This is a great opportunity for our localities to move forward with economic development plans," said Senator LaValle.
Restore NY is a program designed to encourage economic development and neighborhood growth by providing municipalities with financial assistance for revitalization of commercial and residential properties. Restore NY issued its first round of grants in 2006 and, since that time has awarded $150 million to municipalities across the state. Round 3 is the final round and will provide an additional $150 million grant dollars for local improvement projects.
"I would encourage our local governments to compete for the grant dollars available through this program," said Senator LaValle. "Restoring our communities is one of the best ways to attract new business and stimulate economic growth."
The application form for Round 3 of the Restore NY program will be available on the Empire State Development's web site beginning February 9. Final application will be due on May 4 and the awards will be announced in the Spring of 2009.