An infusion of state and federal funding, some coming to the Hudson Valley through the American Recovery and Reinvestment Act, is making its way downstream via a series of initiatives:
Operation IMPACT, the state”™s crime-fighting grant funding, distributed $1,595,291 to Westchester, $407,130 to Dutchess; $863,719 to Orange; $314,119 to Ulster; and $348,684 to Rockland. According to Gov. Paterson”™s office, state police agencies receiving IMPACT funding have reported a 7 percent reduction in crime as a result.
The state Department of Transportation is repaving 6.4 miles of roadways in Orange County from the old Route 32 spur to County Route 16 in Cornwall, as well as a section of Route 302 in the town of Crawford, Additionally, 4.2 miles of Route 9 in the town of Saugerties and a portion of Route 44/55 from Wallkill Creek to the town of Gardiner will see resurfacing. The contract for the repaving work was awarded to Sullivan County Paving in Cochecton and is expected to be completed by December.
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The federal government also approved the state”™s plan to take $86.7 million from ARRA funding and apply it toward Community Service Block Grant programs throughout the state. The Hudson Valley region will receive $5,432,168 as a result.
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The Historic Rehabilitation Tax Credit entered into law July 29 to boost redevelopment in distressed neighborhoods. The increased cap on commercial credit went from $100,000 to $5 million, while residential credit increased from $25,000 to $50,000 over the course of the five-year program. Residential neighborhoods from Newburgh to Yonkers could see a substantial benefit from the credit, geared toward saving ramshackle buildings.
The goal is to eliminate or revise antiquated and burdensome regulations on business, local governments, health care providers and other regulated entities and focus on the state”™s regulations necessary to retain and strengthen protection for public health, safety and welfare.
Ken Adams, president/CEO of the state Business Council, applauded Paterson”™s efforts to “eliminate regulations that make it hard for businesses in New York to create jobs. Private sector growth is the key to economic recovery.”
