Penn Yan is going to be on the receiving end of a $500,000 Restore-NY grant.
In a joint-statement late-Monday — State Senator Tom O’Mara and Assemblyman Phil Palmesano announced multiple municipalities that would be receiving the grant funds.
The Legislature created Restore-NY in 2006 to aid municipalities in rehabilitating or removing obsolete or rundown commercial and residential properties in order to make the sites attractive to residents and businesses searching for new investment opportunities.
In that joint-statement, O’Mara and Palmesano added, “Restore-NY continues to be a critical building block to assist the restoration and revitalization of quality communities throughout the Southern Tier and Finger Lakes regions and statewide. These significant state investments have proven to be a valuable tool and have encouraged local economic development, local job creation and enhanced community pride.”
The improvements planned for Penn Yan are part of the Penn Yan Downtown Revitalization Project. It will include rehabilitation of two buildings, the renovation of the vacant top two floors of a multiuser building, as well as the construction of a two-story mixed use facility.
The projects will result in market rate housing and have other benefits, according to O’Mara and Palmesano.