2012 Regional Economic Development Awards announced

College Town is a comprehensive plan to redevelop approximately 16 acres of University of Rochester-owned property in the City of Rochester and transform it into a vibrant neighborhood that will serve as a gateway to the City and the University.

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College Town in Rochester received $4 million in funding and was featured as one of the Priority Projects for the Finger Lakes, a 2012 “Best Plan” Awardee.

(December 19, 2012)  Today, New York State’s business and civic leaders who participated in the Regional Economic Development Councils (REDC), gathered in Albany for the announcements of the second round awards.   Many smart growth projects were funded which will continue to assist in the revitalization of many of New York’s large and small communities.

Empire State Future has been closely following the process and meeting with leaders to discuss how to best implement smart growth solutions.  Results from 2011, which awarded $785 million in funding to roughly 740 priority and other projects,  indicated that solutions that revitalize main streets, town centers, and urban areas would be rewarded.  The four regions that were designated as 2011 “Best Plan Awardees,” (Long Island, Western New York, Central New York and the North Country) all incorporated regionally appropriate smart growth as top priorities.

The 2012 award format was altered from the previous year.  Two of the four  “Top Plans” from 2011 were recognized as “Top Performers” in 2012, and eligible for an additional $25 million award.  The remaining six regions were in competition for three awards of $25 million for “Best Plan” designations.  $25 million was available for the remaining five regions that were not designated as either a “Top Performer” or “Best Plan”

The 2012 Award Results:

“Top Performers”:

Central New York: $93.8 m

North Country: $90.2 m

“Best Plan”:

Southern Tier: $91.1 m

Finger Lakes: $96.2 m

Mid-Hudson: $92.8 m

Remaining awards:

Western New York: $52.8m

Long Island: $59.7 m

Capital Region: $50.3 m

Mohawk Valley: $59.7 m

New York City: $51.4 m

In total, $738 million was awarded to 725 projects.   Earlier this fall, Empire State Future reviewed all proposed priority projects that requested funding (REDC Round 2: Growth, in the right place, done the right way?).  Specific projects that we identified as particularly important to the future revitalization efforts were featured in each region’s promotional video.  Of the winners, College Town in Rochester, Southern Tier’s commitment to downtown Elmira, Mid-Hudson’s transit-oriented development efforts, and the continued commitment of Central New York to downtown initiatives, were previously recognized by Empire State Future for their commitment to smart growth.

 

A press release from the Governor highlights some of the most noteworthy projects to receive funding.

 

The complete list of funded projects is available here

 

 

 

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