In its second year, the program will invest $100 million into 10 additional downtown neighborhoods across the state. One downtown will be selected by each of the state's 10 Regional Economic Development Councils. The REDCs will solicit applications for downtowns that are ripe for revitalization and have the potential to become magnets for redevelopment, business, job creation, greater economic and housing diversity, and opportunity. Applications for the second round must be submitted by 4 p.m. on Wednesday, June 14, 2017.
In the first year of the DRI, $100 million was awarded to 10 communities -- one in each region as nominated by its Regional Economic Development Council, to identify and implement projects that will revitalize their downtowns. Those communities completed strategic investment plans in March of this year with the assistance of state and outside experts. Key projects will be advanced using the DRI funding in the coming months.
For round two, each Regional Council will weigh eight criteria to select its nominee:
• The downtown should be compact, with well-defined boundaries;
• The municipality, or the downtown’s catchment area, should be of sufficient size to support a vibrant, year-round downtown;
• The downtown is able to capitalize on prior or catalyze future private and public investment in the neighborhood and its surrounding areas;
• There should be recent or impending job growth within, or in close proximity to the downtown that can attract workers to the downtown, support redevelopment and make growth sustainable;
• The downtown must be an attractive and livable community for diverse populations of all ages, including existing residents, millennials and skilled workers;
• The municipality should already embrace or have the ability to create and implement policies that increase livability and quality of life, including the use of local land banks, modern zoning codes and parking standards, complete streets plans, energy efficient projects, green jobs, and transit-oriented development;
• The municipality should have conducted an open and robust community engagement process resulting in a vision for downtown revitalization and a preliminary list of projects and initiatives that may be included in a DRI strategic investment plan; and
• The municipality has identified transformative projects that will be ready for implementation with an infusion of DRI funds within the first one to two years.
Once the 10 DRI communities are selected, the process of developing the DRI Strategic Investment Plan will commence. A Local Planning Committee, appointed by the Secretary of State in coordination with community leaders, will work with the consulting team, state planners, and key municipal representatives to guide and direct the establishment of a community-based vision for revitalizing downtown and the development of a Strategic Investment Plan. Strategic investment plans will examine local assets and opportunities, and identify economic development, transportation, housing, and community projects that align with the community’s vision for the downtown, that are poised for implementation, and that can leverage and expand upon the state’s $10 million investment. Plans will be complete in early 2018.
Last July, Governor Coumo announced to a room of government officials, community leaders and local business people that Oswego was one of ten first-place winners in the the first round of the Downtown Revitalization Initiative and will receive $10 million in state funds to complete their plan.
Oswego's plan includes revitalization for SR 104, the incubator project in the former Price Chopper, improvements to the Buckhout-Jones building, home of the Children's Museum of Oswego, riverfront apartments on West First Street, restoration and reuse of the historic Cahill building, revitalization of the Midtown Plaza into market rate apartments and commercial use, and revitalization of the former Flexo-wire site into a mixed-use complex. Having submitted their strategic investment plan earlier this year, the City of Oswego awaits the funding phase of the DRI.
For more information about the Downtown Revitalization Initiative, visit https://regionalcouncils.ny.gov/.