Mayor John T. McDonald III announced that the City of Cohoes has been awarded a Community Development Block Grant (CDBG) in the amount of $400,000 from the Office of Community Renewal. The CDBG program is awarded to municipalities and nonprofit organizations by the state through an annual grant competition.
The New York State Community Development Block Grant program provides financial assistance to eligible cities, towns, and villages, in order to develop viable communities by providing decent, affordable housing, and suitable living environments, as well as expanding economic opportunities, principally for persons of low and moderate income.
The grant will provide the necessary funds to assist the City in the rehabilitation of 28 units of rental housing in downtown Cohoes in the areas of Remsen Street and Columbia Street from Howard to Congress Streets.
“The City of Cohoes is pleased to be awarded this grant as part of our continued efforts to revitalize our downtown business district. Unlike other efforts in the past that have focused on city-wide housing rehabilitations for low to moderate income needs, these funds will be focused on a selected area to demonstrate a larger impact. This particular area, long overlooked for assistance in the past, is also a critical part of the downtown. The intent is to rehabilitate the units into workforce housing to increase the amount of residents living in our downtown and as a result increasing demand for services and businesses,” said Mayor John T. McDonald III.
Mayor McDonald expressed his appreciation to Governor Cuomo and the Office of Community Renewal as well as Congressman Paul Tonko, Senator Neil Breslin, and Assemblyman Ronald Canestrari for their full support for the City’s application.