The first municipalities have been announced to receive $10 million each in round two of Governor Andrew Cuomo’s Downtown Revitalization Initiative (DRI). One city in each of the state’s ten regional economic development councils is being selected to receive funding from the $100 million pool.

Selections are based on a downtown’s potential for transformation with a strategic plan for boosting its local economy through job growth, multiple housing options and attractive quality of life improvements.

Communities selected to date in Round Two of the DRI are:

Capital Region - Hudson

Central New York

Finger Lakes

Long Island - Hicksville (Oyster Bay)

Mid-Hudson

Mohawk Valley

New York City

North Country

Southern Tier - Village of Watkins Glen

Western New York

The state received 104 applications in round two. The municipalities selected to receive $10m awards are slated to receive the funding over five years. It is unknown at this time whether or not the DRI will expand to Round 3.

There are many ways to utilize the state funding through the DRI. Our next muniblog post will look at Round 1 recipients and how they used their $10 million grant to transform their downtowns.