Ten million dollars is at stake for the Village of Newark.
The Village of Newark announced Friday that it has been named a finalist in Governor Cuomo’s Downtown Revitalization Initiative (DRI), giving the Village a potential to win $10 million in the competition’s next (and final) round.
The DRI is a state-wide competition in which one winner is chosen from each of New York State’s ten Regional Economic Development Councils. Each of the ten winners receives $10 million in New York State funding to be used for local development.
Applicants are required to present proposals displaying an overall community vision with specific goals, and a good variety of economy-boosting and job-creating local development projects. They must also provide proof of community preparedness for these proposed projects, as well as strategies and the administrative capacity to see each project through to completion.
The Village of Newark’s submission was titled “Choose Newark,” and was entered last week.
Mayor Jonathan Taylor commented, “It’s more than an application – it’s a plan for long-term economic sustainability for the Village of Newark and the surrounding region.”
The submission highlighted Newark’s recent investments into infrastructure improvements, particularly along the Erie Canal, which runs through the Village. The Village of Newark’s application focused on a desire to use this potential State funding to “keep the momentum going,” in their efforts to improve Newark.
Taylor is hopeful that, if granted this funding, Newark will be able to reach serious development goals in the community. “There are developers that have shown interest in investing in downtown, and I am confident that receiving the DRI award would move them to action.”
As for the competition’s final round, Senator Pat Helming has confidence in the Village of Newark. “It has been a privilege to support these efforts by securing grant opportunities for much-needed infrastructure improvements. Mayor Taylor and his team have clearly demonstrated their commitment and their ability to improve the Village for both residents and visitors,” said Helming.
Assemblyman Brian Manktelow also expressed his support. “Just in the past few months, there has been an explosion of growth in the village, with new businesses opening, established ones expanding and beautiful landscaping going in along Route 88. Mayor Taylor and the Village Board have been proactive and forward-thinking with a real plan for the municipality.”
Having been crowned Finger Lakes Region Finalist, the Village of Newark is scheduled to give a formal presentation to the selection committee on Thursday, June 20th. The winners of the competition will be announced later in the summer.