FYI: Backgrounder On Restore-NY

Silver Offers Praise For Spitzer's Innovative Use of Assembly Initiative

Assembly Speaker Sheldon Silver today commended Gov. Eliot Spitzer's historic investment in upstate New York through the planned implementation of the Restore NY's Communities Initiative as part of his upstate revitalization program.

Silver noted that the Restore NY was an Assembly initiative that came about following discussions with Buffalo city leaders. Mayor Byron Brown and his administration identified blighted communities as an impediment to economic development which had not been addressed in any of the previous economic development initiatives. Silver said the program was a response to concerns and needs expressed by Brown about the lack of site-ready development locations. When the program was launched, it was expanded to address communities throughout the state.

"Restore NY is a $300 million Assembly initiative that originated in Western New York, and so it is fitting that the Governor announced a second round of important projects as part of his State of the Upstate address in Buffalo on Wednesday," said Silver. "Restore NY is already providing vital support for revitalization and renaissance in communities throughout New York State, which in turn stimulates much-needed job creation and economic development."

Advanced by the Assembly Majority during negotiations, the Restore NY's Communities Initiative was first enacted in the SFY 2006-2007 budget. The program encourages community revitalization and economic development by providing municipalities with financial assistance for the rehabilitation, reconstruction, demolition or enhancement of blighted properties and to prepare sites for community or economic development purposes.

Under the program, municipalities apply for the grants, and the requests are carefully reviewed by the Empire State Development Corporation.

"The Assembly Majority has strongly backed increased funding to aid struggling cities, towns and villages. These grants will help enhance communities' beauty and character, help them compete for private investment, and improve the quality of life in our neighborhoods," said Silver.

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NOTE: A list of Restore NY projects can be found at: http://www.assembly.state.ny.us/comm/WAM/20080116/