$200 Million in Funding Available for Downtown Revitalization Initiative and NY Forward Programs
Governor Kathy Hochul has announced that $200 million in funding is available through the State’s two signature downtown revitalization and economic development programs—$100 million each for Round 9 of the Downtown Revitalization Initiative (DRI) and Round 4 of the NY Forward program, which focuses on revitalizing smaller and rural downtowns. Together, the two programs have awarded $1.2 billion in funding to 151 communities across every region of the state.
“The dedicated work of the Regional Economic Development Councils, focused on encouraging public-private partnerships, has had a transformational impact across New York State,” Governor Hochul said. “The regionally designed plans will support the goals of the new ACHIEVE competition, creating investment opportunities that will help to build a more sustainable, successful future for all New Yorkers.”
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New York State’s Downtown Revitalization Initiative (DRI) is a cornerstone of the State’s economic development program. The DRI transforms downtown neighborhoods into vibrant centers that offer a high quality of life and are magnets for redevelopment, business, job creation, and economic and housing diversity. These compact, walkable downtowns are a key ingredient to helping New York State rebuild its economy from the effects of the COVID-19 pandemic, as well as to achieve the State’s bold climate goals by promoting the use of public transit and reducing dependence on private vehicles.
Governor Hochul announced the creation of the NY Forward (NYF) program to invigorate and enliven downtowns in New York’s smaller and rural communities, the type of downtowns found in villages, hamlets and other small, neighborhood-scale municipal centers. NY Forward builds on the success of the Downtown Revitalization Initiative (DRI) by adopting the same “Plan-then-Act” strategy as the DRI.
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