Recognizing that companies are increasingly seeking to relocate and invest in vibrant, walkable downtowns in an effort to attract and retain a talented workforce, Governor Cuomo launched a major new initiative – the Downtown Revitalization Initiative (DRI), to improve the vitality of urban centers across New York State.
Launched in 2016, the $100 million initiative resulted in identification by the Governor’s ten Regional Economic Development Councils (REDCs) of one community in each region to participate in the DRI. Ten more communities were identified in 2017 (DRI Two) and again in 2018 (DRI Three). Each year, the State facilitated a community planning process that resulted in a Strategic Investment Plan for each community.
To fully leverage the impact of the DRI, Local Planning Committees identified projects that totaled in excess of the available DRI funds to ensure a continued pipeline of projects ready for funding within the community. The Governor will soon announce the projects that will receive implementation funding through the third round of the Downtown Revitalization Initiative.
Communities selected in Round Three of the DRI were: