The city of Peekskill is getting $10 million from the state and it is looking for suggestions on how to spend it.
The city was selected by the Mid-Hudson Regional Economic Development Council to receive a $10 million state Downtown Revitalization Initiative (DRI) award. It was announced Aug. 14 by Gov. Andrew M. Cuomo. The first $300,000 of the state award was to be devoted to covering planning costs. The remaining $9.7 million is to be used for projects that will act as catalysts to advance the city’s vision for downtown revitalization.
The Peekskill DRI Local Planning Committee, which was established to spearhead the project selection process, has issued an open call for proposals. It is inviting any members of the community who may have projects in mind for private downtown sites that would provide economic and community benefits to make submissions.
Mayor Andre Rainey led a couple of walking tours of the downtown to help highlight features which might benefit from the funding such as the Paramount Hudson Valley Theater, the waterfront area and the city’s gazebo at North Division Street and Central Avenue.
The open call is designed to attract proposals for privately sponsored projects. These could include capital projects sponsored by individuals, property owners, business owners, nonprofit organizations and cultural institutions. There must be a clear need for the funding. The projects must demonstrate that a funding gap exists and, if properly funded, that they will provide a tangible benefit to the community.
Typical of projects that might receive DRI funding would be the development, redevelopment or rehabilitation of real property for commercial, residential, industrial or mixed uses. Capital projects that facilitate expansion of existing businesses or creation of new businesses within the DRI area also would be considered, as would capital projects that facilitate expansion and/or increased programming of arts, cultural, or community institutions.
Goals of the DRI initiative include: creating an active, desirable downtown with a strong sense of place; attracting new businesses that create a robust mix of shopping, dining, entertainment and service options while providing jobs; enhance public spaces for arts and cultural events; grow the local property tax base; and provide amenities that support and enhance downtown living and quality-of-life.