$250 Million “Restore New York” Program Opening Next Week

In a press release on Tuesday, Governor Kathy Hochul announced that the "Restore New York" grant program will be opening on Monday.

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The $250 million program is aimed at eliminating and redeveloping blighted and abandoned structures in New York and encourages municipalities throughout the state to restore residential, commercial and mixed-use buildings.

The funds are intended for the demolition or reconstruction of vacant, condemned or surplus buildings and municipalities can apply directly for the grants. The grants will be offered in two rounds, with $100 million available in round one and $150 million available in round two.

Cities with over 100,000 residents can apply for one project and $5 million in grant funds with a stipulation that municipalities with over 1 million residents must apply for projects in distressed areas. Cities with between 40,000 and 99,999 residents, like the City of Binghamton, can apply for one project and $3 million of grant funds, and all other municipalities can apply for one project and $2 million of grant funds.

Municipalities with less than 100,000 residents or counties with less than 400,000 residents can apply for $10 million in additional grant funds for a separate project or put those funds in conjunction with the original application for a larger project.

Governor Hochul stated "These spaces once had purpose and are now in need of funding and vision to breathe new life into neighborhoods. Restore New York funding gives localities the resources to transform abandoned and neglected properties, helping rebuild and strengthen communities across the state."

An instructional webinar will be held on July 13 through the Empire State Development website.