Schenectady awaiting $10M in state economic development funds
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1of18Buy PhotoGov. Andrew Cuomo speaks during an announcement that Schenectady will receive $10 million from the state for the revitalization of its downtown district on Tuesday, Nov. 5, 2019, at Proctors Theatre in Schenectady, N.Y. The money was awarded to the city through the fourth round of the state s Downtown Revitalization Initiative, which invests annually in 10 plans across the state that are intended to turn around local communities. (Will Waldron/Times Union)Will Waldron/Albany Times UnionShow MoreShow Less
2of18Buy PhotoGov. Andrew Cuomo speaks during an announcement that Schenectady will receive $10 million from the state for the revitalization of its downtown district on Tuesday, Nov. 5, 2019, at Proctors Theatre in Schenectady, N.Y. The money was awarded to the city through the fourth round of the state s Downtown Revitalization Initiative, which invests annually in 10
As new year begins, questions for Schenectady’s $10M Downtown Revitalization Initiative remain unanswered | The Daily Gazette
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SCHENECTADY The year has been rough for downtown Schenectady, where restaurants and bars have been battered by stop-and-go restrictions and Proctors remains shuttered.
But even amid the pandemic, the city passed a major hurdle on how to spend $10 million in state grant funds awarded last fall as part of the Schenectady Downtown Revitalization Initiative (DRI), the effort designed to spur broader economic investment between downtown and Mohawk Harbor.
With the year coming to an end, and the state facing an $8.7 billion projected budget shortfall, an announcement on which projects, if any, will be greenlit by the state remains forthcoming.