| NYS announced that $200 million in funding is available through the State’s two signature downtown revitalization and economic development programs — $100 million each for Round 8 of the Downtown Revitalization Initiative and Round 3 of the NY Forward program, which focuses on revitalizing smaller and rural downtowns. Together, the two programs have awarded $1 billion in funding to 124 communities across every region of the State since 2016.
The Downtown Revitalization Initiative (DRI) was launched in 2016 to accelerate and bolster the revitalization of downtowns and neighborhoods in all 10 regions of the State to serve as centers of activity and catalysts for increased local investments. Led by the Department of State (DOS), DRI communities benefit from partnerships with and coordinated technical assistance provided by the Department of Housing and Community Renewal (HCR), Empire State Development (ESD) and the New York State Energy Research & Development Authority (NYSERDA). The DRI represents an unprecedented and innovative “plan-then-act” strategy that couples strategic planning with immediate implementation. For DRI Round 8, joint applications of two to three contiguous communities in the same REDC region with a single unified vision will be accepted. First announced as part of the 2022 Budget, NYS created the NY Forward program to build on the momentum created by the DRI. The innovative program, which is funded at $100 million in this year’s Enacted State Budget, supports a more equitable downtown recovery for New York’s smaller and rural communities with a focus on hamlet and villages. NY Forward is meant to serve smaller communities and support local economies that often have a feel and charm that is distinct from larger, metropolitan urban centers funded through DRI. To date, NY Forward has awarded a total of $200 million to 43 communities over two rounds. To receive funding from either the DRI or NY Forward program, localities must be certified under the State’s Pro-Housing Communities Program – an innovative policy designed to reward local governments that are working hard to address New York’s housing crisis. Localities must have at least submitted a letter of intent to become a pro-housing community prior to applying for funding through DRI or NY Forward and must be certified before receiving an award through either program. On Tuesday, August 20 at 11 am, join a free webinar to learn more about Round Eight of the Downtown Revitalization Initiative and the third round of the New York Forward program. Amanda Bearcroft, Program Director DRI & NYF, NYS Department of State will offer insights and answer questions about the next round of funding awards and how to apply. Click Here to Register Applications are available through the State’s Consolidated Funding Application Portal beginning at 4:30 p.m. on August 6. The deadline to apply is October 18, 2024, at 4 p.m. |
