Binghamton seeks additional state funding

By WBNG News

The Southern Tier Regional Economic Development Council met at BU to discuss jobs and economic growth in Southern Tier.

June 17, 2014 Updated Jun 17, 2014 at 3:21 PM EDT

Binghamton, NY (WBNG Binghamton) Mayor Rich David announced Tuesday the city submitted four applications to the Southern Tier Regional Economic Development Council for additional state funding.

The city hopes to attain a total of $8.48 million dollars for four separate projects to improve the Greater Binghamton area.

The first application asks for $7.7 million towards the $38.5 million cost of the Collier Street Commons mixed-use project. The money would help convert a parking ramp into a new building with housing and commercial space.

An additional $500,000 is sought for the redevelopment of a vacant lot on Court Street. The multi-million dollar project proposal would convert the empty space into a four or five story building with retail space and housing.

The city seeks $200,000 to renovate the facades of 12 downtown buildings on Main Street, Court Street and Washington Street.

The final project asks for $75,000 as part of the Market NY campaign, which seeks to attract tourists to the Greater Binghamton area.

In the next phase of the process the state determines if proposals from the ten regions across the state are eligible for funding. The applications then go back to the Regional Economic Councils to be separated as priority projects and normal projects. Normal projects are scored on a one to 20 scale and evaluated based on the five-year plan created by each region in 2011 and updated annually.

The state expects to award the regional councils in the fall.

The Southern Tier has received over $200 million of funding from the program since its inception in 2011.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.