Schumer announces revitalization plan in Schenectady - NEWS10 ABC: Albany, New York News, Weather, Sports

Schumer announces revitalization plan in Schenectady

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SCHENECTADY, N.Y. - Exciting economic buzz was announced for downtown Schenectady Monday, as U.S. Senator Charles Schumer announced he's working to continue the revitalization efforts in the city.

Senator Schumer is rallying Congress to extend the New Markets Tax Credit and expand the Historic Tax Credit. 

He says, he also wants to remind developers that public-private partnerships are the best kind and encouraged them to renovate underutilized historic buildings.

"There's a real opportunity to marry the beauty of these buildings with jobs, with people coming to live here, and with new economic life and vitality," Schumer said.

Some landmarks that have benefited from these credits in the past are Proctors, the Bow-Tie  Cinema and Center City.

The Senator says if the credits are extended he'll work to restore the former Foster Hotel, the ALCO site and the Robinson Furniture site.

Congress has until Dec. 31, 2012 to extend the credits.

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