Restore New York Communities Initiative
Due to limited availability of funds caused by the significant responses for Restore New York funding, applications for future funding are not currently being accepted.
The Restore New York Communities Initiative provides municipalities with financial assistance for revitalization of commercial and residential properties. The program encourages community development and neighborhood growth through the elimination and redevelopment of blighted structures.
The Restore New York program was established to
- revitalize commercial and residential property;
- attract residents and business; and
- increase tax base, make communities economically viable.
A $300 million appropriation was enacted in the 2006-07 New York State Budget for the Restore New York program, rolled out in three rounds:
- Round I – $50 million appropriated in 2006; 54 grants awarded
- Round II – $100 million appropriated in 2008; 64 grants awarded
- Round III – $150 million appropriated in 2009; 79 grants awarded
Restore New York funding is available for projects involving the demolition, deconstruction, rehabilitation and or reconstruction of vacant, abandoned, condemned and surplus properties.
- be initiated by municipalities;
- demonstrate at least a 10% match; and
- hold a public hearing to discuss the application and the property assessment list.
Applications are initially evaluated at the regional level
Applications are scored against specific guidelines
and how strongly they meet goals of program, which are
revitalize urban centers
induce commercial investment
improve the local housing stock
There is also a strong emphasis placed on projects from economically distressed communities
Contact your ESD Regional Office.