Local Support For 2024 CFA Process: REDC Round XIV
May 17, 2024
Governor Kathy Hochul has announced the opening of the Round XIV Regional Economic Development Council Initiative and Consolidated Funding Application (CFA) process. The application portal is now open and Capitalize Albany staff is available to assist applicants located within the City of Albany.
Corporation staff will coordinate requests for letters of support from the Mayor and resolutions from the City of Albany Common Council for local applicants when required. Applicants that plan on requesting a letter of support or require a municipal resolution must complete the Project Intake Form available in the link below and return it to Capitalize Albany by 5 p.m. on June 26th to assist staff in coordinating materials.
Please download and send the completed Project Intake Form to: [email protected] or to our office at 21 Lodge Street, Albany, NY 12207.
Download The Project Intake Form Here
Referenced in the form for assistance here is information on the 2024 CFA statewide priorities and regional strategies.
About Round XIV
Round XIV includes $445 million in core capital grant and tax-credit funding combined with a range of programs from eight state agencies, including $100 million in grant funds from Empire State Development (ESD), available to projects on a continuous basis.
The Councils are encouraged to support projects that advance or address strategic state priorities – including distressed communities, childcare, innovative public-partnerships, and green buildings and sustainable development. Projects that promote these goals will be eligible for an enhanced incentive.
In Round XIV, ESD is launching two new grant programs: the Capital Improvement Grants for Pro-Housing Communities Program and the Small Manufacturer Modernization Grants Program. More information here.
$100 million in ESD grant funds will be made available on a rolling basis, with awards made throughout the year. This year, municipal applicants must be a certified Pro-Housing Community.
Additionally, a second round of the Not-for-Profit Capital Grant Program will make up to $5 million available to award matching fund grants to not-for-profit organizations that provide economic and community benefits in their region to assist with facility improvements and upgrades. Grant awards will range from $25,000 to $100,000.
Local Support & Technical Assistance
It is important to note that not all CFA programs require a formal municipal resolution. However, those agencies that do require the resolution may deem the project ineligible if the resolution is not attached to the submitted CFA. Prior to applying, we encourage you to consult the 2024 Available Resource Guide to review the program guidelines for the specific program(s) available for Round XIV.
Capitalize Albany can also provide technical assistance for your specific CFA proposals and help you to determine what is required. For assistance, please contact Renee McFarlin, also at [email protected] to schedule a one-on-one call or meeting.
All final applications subject to the July 31st deadline must be submitted to the State through the CFA application portal by 4 p.m. on July 31st.
Application Portal And Important Resources:
Contact Capitalize Albany staff at [email protected] with any questions regarding the above information. You can also learn more by visiting http://regionalcouncils.ny.gov/ and the Capital Region Council’s website at https://regionalcouncils.ny.gov/capital-region.
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