The Law Offices of John Caravella, P.C. does not own this content. This content was created by Kevin Oklobzija Of The Rochester Business Journal, and was published to the Long Island Business News on 2/22/2024. To view the full article, please click here.
New York State is making $60 million available to assist municipalities in efforts to transform blighted buildings into residential, commercial and mixed-used developments.
The Restore New York grant program supports efforts to demolish and/or rehabilitate dilapidated structures as a way to revitalize downtowns and drive economic growth.
“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,” Gov. Kathy Hochul said in a news release.
Projects must align with the regional strategic plan of the Regional Economic Development Council and should be either architecturally consistent with nearby and adjacent properties or consistent with the municipality’s local revitalizing or urban development plan.
Eligible applicants include counties, cities, towns and villages.
Cities with a population over 100,000 may apply for up to $4 million for one project. Cities and villages with populations between 40,000 and 99,999 may apply for up to $3 million for one project. All other municipalities may apply for up to $2 million for one project.
Applications will be available starting Thursday on the Restore New York Communities Initiative website. The site has information and program rules.
The Law Offices of John Caravella, P.C. does not own this content. This content was created by Kevin Oklobzija Of The Rochester Business Journal, and was published to the Long Island Business News on 2/22/2024. To view the full article, please click here.
John Caravella Esq., is a construction attorney and formerly practicing project architect at The Law Office of John Caravella, P.C., representing architects, engineers, contractors, subcontractors, and owners in all phases of contract preparation, litigation, and arbitration across New York and Florida. He also serves as an arbitrator to the American Arbitration Association Construction Industry Panel. Mr. Caravella can be reached by email: John@LIConstructionLaw.com or (631) 608-1346.
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