In NY, Regional Financial Growth Council competitors gives $445M

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New York State has launched Spherical XIV of the Regional Financial Growth Council Initiative. This yr there may be $445 million in core capital grant and tax-credit funding for which candidates can apply.

Together with applications from eight state companies, the funding contains $100 million from Empire State Growth, which is obtainable to initiatives on a rolling foundation.

The councils, one in every of which incorporates Lengthy Island, are inspired to help initiatives that advance or tackle strategic state priorities. These priorities embrace distressed communities, childcare, public-private partnerships in addition to inexperienced buildings and sustainable improvement. Every council is tasked with creating an annual report that describes the state of their area.

“The newest spherical of the Regional Financial Growth Council Initiative will proceed the transformational work we’re doing all through New York State,” Gov. Kathy Hochul mentioned in a written assertion.

“Our state investments will fund initiatives in pro-housing licensed communities and past that may encourage public-private partnerships and make a distinction within the every day lives of New Yorkers,” Hochul added. “I look ahead to seeing plans that may help small producers, broaden entry to childcare, assist construct a sustainable future and pave the best way to alternative.”

For the 2023-24 competitors, 51 initiatives on Lengthy Island have been awarded an estimated $25 million. For the brand new spherical, which candidates can now apply for, Empire State Growth is providing two new grant applications.

As a lot as $10 million can be out there to long-standing producers by the Small Producer Modernization Grants Program. This system is designed to assist these producers modernize and combine superior applied sciences. Grant awards will vary from $50,000 to $250,000.

As a lot as $40 million can be out there to municipalities, counties and not-for-profits by the brand new Capital Enchancment Grants for Professional-Housing Communities Program. This funding is designed to help capital enchancment and placemaking initiatives which can be situated inside “pro-housing communities,” that are areas which can be licensed by Houses & Neighborhood Renewal and may apply for discretionary funding applications together with from the Lengthy Island Funding Fund. Grant awards will vary from $100,000 to $3,000,000.

By a second spherical of the Not-for-Revenue Capital Grant Program, as much as $5 million is obtainable to award matching fund grants to not-for-profit organizations that present financial and neighborhood advantages of their area to help with facility enhancements and upgrades. Grant awards will vary from $25,000 to $100,000.

On Lengthy Island, a workshop can be held on June 10, at 10 a.m. at Farmingdale State Faculty to clarify the applying course of, and to supply details about the applications and extra sources and funding out there. To register, click on right here. Further workshops can be held all through the state.