Featured News - Current News - Archived News - News Categories

Metro Creative Graphics
Metro Creative Graphics

Applications to start for $60 million Restore New York program


Wed, Feb 21st 2024 11:45 am

Program supports local efforts to transform blighted, underutilized structures into vibrant residential, commercial and mixed-use developments – application will be available here

√ Instructional webinar for interested municipalities to be held Feb. 27 – register here

Gov. Kathy Hochul announced applications for the next $60 million round of the Restore New York grant program will open tomorrow. The program, which is administered by Empire State Development, supports municipalities’ efforts to demolish, rehabilitate and restore blighted structures and transform them into vibrant residential, commercial and mixed-use developments.

As part of the fiscal year 2025 executive budget, Hochul has proposed a $50 million investment to fund future rounds of Restore NY.

Applications for this round will be available here, starting tomorrow.

“With Restore New York, we’re putting up $60 million in funding to breathe life back into communities all across our state,” Hochul said. “This program gives municipalities the support they need to turn blighted, rundown buildings into housing, commercial hubs, and more, and any local leader ready to unlock their community’s potential should apply.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Restore New York gives municipalities the support they need to create real change in their communities. By removing or rehabilitating eyesores that bring down a neighborhood, municipalities have opportunity to revitalize their community and generate new economic opportunities.”

A press release stated, “The goal of Restore New York is to help attract residents and businesses by redeveloping residential, commercial, and mixed-use properties. Each project should align with the regional strategic plan of the Regional Economic Development Council, and projects should be either architecturally consistent with nearby and adjacent properties or consistent with the municipality's local revitalization or urban development plan.

“Funding can be used for vacant, abandoned, condemned or surplus buildings, and these properties can be demolished, deconstructed, rehabilitated or reconstructed. Emphasis will be placed on projects in economically distressed communities, projects that leverage other state or federal redevelopment funds, and the project's feasibility and readiness.”

Eligible applicants include counties, cities, towns and villages within New York state based on the following criteria:

√ Cities over 100,000 in population may apply for up to $4 million for one project. However, cities of over 1 million in population and counties therein must apply for projects in a distressed area of the city.

√ Cities and villages with populations between 40,000 and 99,999 may apply for one project up to $3 million.

√ All other municipalities may apply for one project up to $2 million.

Empire State Development may grant a limited number of special awards. Municipalities with populations of 100,000 or less, and counties with populations of 400,000 or less as of the last census, may apply for an additional $10 million to put toward a second separate project or toward part of a larger project in addition to the funding limits listed above.

The press release noted, “Special projects are where the property causes severe economic injury to the community, leaving a highly visible and blighted property or properties in the central business district of a highly or moderately distressed community, which has a depressing effect on the overall economic development potential of the community.”

Communities interested in applying can register here for ESD’s instructional webinar, which will be held Feb. 27. An intent to apply form must be received by ESD by March 25. For more detailed information on the program and requirements, visit https://esd.ny.gov/restore-new-york.

Hometown News

View All News