GLOVERSVILLE, N.Y. (NEWS10) — Gloversville is being awarded $10 million as one of the fifth-round winners of the Downtown Revitalization Initiative (DRI). The initiative is to help communities boost their post COVID-19 economies by transforming downtowns into vibrant neighborhoods.
“Thriving downtowns play an essential role in strengthening regional economies, which makes it critical we continue to support our local partners in their efforts to redevelop and reimagine those areas in their own communities,” said New York Governor Kathy Hochul. “The Downtown Revitalization Initiative is one of our best tools for this type of economic development, and in Gloversville, it will deliver the resources the city needs to not only help businesses grow, but improve the quality of life for all those who live and work there.”
As part of the fifth round of DRI, each of the state’s 10 regional economic development regions are being awarded $20 million. In the Mohawk Valley, Gloversville is receiving half of that money.
The Gloversville DRI area includes the core downtown, with the majority of the retail and commercial businesses and the densest neighborhoods located within the city. Even though the city is classified as a disadvantaged community, Hochul said they have remained committed to revitalization with a number of completed and ongoing projects.
These include the restoration of the public library, mixed-use redevelopment projects, and city sewer upgrades. The city plans to continue this restoration with creating housing, arts and entertainment opportunities, and increasing connectivity between the downtown and Cayadutta Creek.
Gloversville must now begin developing a Strategic Investment Plan to revitalize its downtown with up to $300,000 in planning funds. The plan will examine local assets and opportunities and identify economic development, transportation, housing, and community projects for revitalization.
Gloversville joins Oneonta, Rome, Amsterdam and Utica, which were the Mohawk Valley Region’s winners in the first four DRI rounds.