BALLSTON SPA, N.Y. (NEWS10) – The Village of Ballston Spa has been awarded a $153,000 competitive grant from the New York Department of State Brownfield Opportunity Area (BOA) program. The village plans to develop a 176-acre area encompassing a substantial portion of the downtown center along NYS Rt. 50, and two adjacent water bodies – the Gordon and Kayaderosseras Creeks.
The purpose of the funding request is to prioritize four areas for redevelopment within the BOA to create transformative redevelopment of the central core of the village, increase access to waterfront property, and return underutilized properties to productive use. BOA will focus its study on what is called ‘brownfield’ sites that may or may not have contamination associated with them that can just be vacant buildings or properties.
Once the study is complete, the Village will request BOA designation from the Secretary of State approved plans that will allow developers participating in the voluntary Brownfield Cleanup Program to receive a tax credit “bump-up” to redevelop the sites. Developers will then return underutilized properties to productive use in a manner that is consistent with the community’s vision.
The designated BOAs can also receive priority and preference for some state grant programs, including DOS’s Local Waterfront Revitalization Program and the Department of Environmental Conservation’s (DEC) Environmental Restoration Program. The grant of $153,000 requires a $17,000 match (10%) from the Village that will allow them to hire a consultant to work with Village property owners and developers to prepare the nominated area.