Albany, Troy, Cohoes among communities competing for $10 million from state
Six municipalities in the Albany region are competing for the chance to win $10 million in economic development aid from the state, including the cities of Albany, Troy and Cohoes.
They were among the applicants for the latest edition of the Downtown Revitalization Initiative, an annual competition held by the administration of Gov. Andrew Cuomo to help communities trying to rebuild and improve their downtowns.
The city of Rensselaer and village of Castleton-on-Hudson in Rensselaer County and the village of Schuylerville in Saratoga County also submitted applications by the June 1 deadline.
Empire State Development, which coordinates the competition, didn't disclose the applicants other than saying the number that were received from the counties.
Local officials confirmed to Albany Business Review they had applied.
The six applications will be screened by the Capital Region Economic Development Council, which includes business and community leaders. One recommendation will be sent to Empire State Development by July 13.
Cuomo later this year will announce the $10 million winner in each of 10 regions of the state. A total of 105 applications were submitted across New York.
The cities of Glens Falls and Hudson each won in the first two rounds.
Cohoes has applied previously, and hopes it will have the edge this year as the city tries to rebuild a part of downtown destroyed by fire six months ago and make other improvements.
Albany, Troy, Rensselaer and Castleton-on-Hudson have also previously applied but were passed over.
Gina Giuliano, a trustee in Castleton-on-Hudson, believes it's a long-shot for the village of 1,500 people to be selected based on the size of other cities that have won, but said the process is still worthwhile because of the attention it draws from state officials.
Maybe the third time’s a charm," Giuliano said. "As the years go by the list of municipalities that are applying is not growing so the competition is less. We are kind of on the radar screen at this point. The proposal has been refined and is stronger."
Source:
https://www.bizjournals.com/albany/n...ng-for-10.html
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