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State announces downtown funding ADVERTISEMENT

State announces downtown funding

PENN YAN--The Penn Yan revitalization awards were announced Thursday, Aug. 8 by Lt. Gov. Kathy Hochul for 15 downtown projects totaling $9.7 million. Business leaders, officials and property owners gathered Thursday morning at the Belknap building, 106 Main St., to hear the project funding results.
Lt. Gov. Hochul said, "The village of Penn Yan has a charming downtown that is primed for growth thanks to strategic investment. The projects funded as part of our Downtown Revitalization Initiative (DRI) will build upon Penn Yan's strengths as a centerpiece of the region's craft food and beverage industry, expand the availability of housing, and improve quality of life to create a brighter economic future for the Finger Lakes."
Penn Yan was named a DRI Round three winner in October 2018. The DRI planning effort in Penn Yan will focus on promoting sustained, year-round economic growth by concentrating on four areas: leveraging the abundant natural assets, capitalizing on the growing craft food and beverage industry, using the local art scene as an economic engine, and capturing the intellectual capital that lives and vacations in the village.
In Penn Yan, five projects came in with state DRI funds for over $1 million. The five included: Revive the Sampson Theater, $1,000,000; Transform the historic Knapp Hotel, $1,575,000; Repurpose Struble's Arcade building, $1,485,000; Expand Penn Yan's parks and trails network, $1,135,116; Install streetscape improvements facilitating downtown accessibility, $1,507,277.
The 10 additional projects include funds for Water Street townhomes, a downtown brewery, convert upper-story building space into apartments, a new downtown restaurant and improving the Milly's Pantry building to enable the group to expand children's programs and services. The complete list of the 15 downtown projects is published above.
Steve Griffin, CEO of the Finger Lakes Economic Development Center, said, "Penn Yan's revitalization is a testament to the commitment of Gov. Cuomo to revitalize and enrich upstate New York. This burgeoning region is only moving forward and this investment and the community that ardently supported it will bring unprecedented growth to the Finger Lakes region."
Penn Yan Mayor Leigh MacKerchar said, "Gov. Cuomo's dedication to the upstate New York economy and the revitalization of our downtowns is unparalleled. This investment in Penn Yan will further transform our great village and I am looking forward to seeing the growth we experience."







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