Economic Development Funding Alert
$150 Million RESTORE NY Grant Funding Available
RESTORE NY grant funding promotes revitalization of communities by redeveloping or eliminating blighted structures. The application period for the $150 Million in Round 7 of this funding now open. If community revitalization and economic development are priorities for your community, let’s talk about this funding designed to:
- Encourage commercial investment.
- Improve the local housing stock.
- Put properties back on the tax rolls.
- Expand and diversify the local tax base.
RESTORE NY AT-A-GLANCE
DATES
- Nov. 1, 2022 – Round 7 funding opened
- Nov. 30, 2022 – Letters of Intent to Apply due
- Jan. 27, 2023 – Applications due
ELIGIBLE COMMUNITIES AND GRANT AMOUNTS
New York State counties, cities, towns, and villages according to the following criteria:
- Cities over 100,000 in population: eligible for up to $5 million for one project.
- Counties over one million in population and cities therein: must apply for projects in a distressed area of the city.
- Cities and villages with populations from 40,000 – 99,999: eligible for up to $3 million for one project.
- All other municipalities: eligible for up to $2 million for one project.
ELIGIBLE PROJECTS
- Funding can be used for vacant, abandoned, condemned or surplus buildings.
- These properties can be demolished, deconstructed, rehabilitated or reconstructed.
PREFERRED PROJECTS
Emphasis will be placed on projects:
- Located in economically distressed communities.
- Leveraging other state or federal redevelopment funds.
- Demonstrating project feasibility and readiness.
- Synched with Regional Economic Development Council (REDC) priorities.
SCHEDULE A CALL TO DISCUSS THIS OPPORTUNITY
If community revitalization and economic development are priorities for your community, let’s talk about this funding. Simply submit this form and we’ll be in touch to schedule a call.