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IDA reports DRI progress and nearly $600,000 available for downtown projects
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Summary
Staff told the board the DRI small project grant is moving forward with HCR review and that the village and staff are working to spend up to about $600,000 across multiple tiers, subject to MWBE and other program requirements.
IDA staff reported continued progress on a DRI small project grant application and explained steps to ensure compliance with state requirements.
Nicole (identified in the record as an IDA staff member) said the applicant is actively working through the application and staff remains in regular contact with New York Homes and Community Renewal to answer program questions and ensure compliance. A board member said the village had posted notice on social media and reiterated that MWBE, veteran, and disabled-veteran requirements apply.
Staff described three award tiers, with the top tier up to $150,000 and smaller awards in lower tiers (staff said those tier amounts are in their office records). The board discussed bridging financing and the need for recipients to pay some costs upfront; staff said DOS reimbursement history will affect cash flow for recipients.
The board encouraged outreach to businesses in the DRI area and said staff will continue engagement and compliance work as the process proceeds.
