Governor Kathy Hochul today announced that Village of Valley Stream will receive $10 million in funding as the Long Island winner of the ninth round of the Downtown Revitalization Initiative (DRI), and the Village of Patchogue will receive $4.5 million as the Long Island winner of the fourth round of NY Forward. For Round 9 of the DRI and Round 4 of the NY Forward Program, each of the State’s 10 economic development regions is being awarded $10 million from each program, for a total state commitment of $200 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods. To date, total investments in the DRI and NY Forward have reached $1.4 billion.
“Downtowns and Main Streets are powerhouses for localities, and any investments toward them shape the business and recreational scene for residents and visitors — that’s why the Downtown Revitalization Initiative and NY Forward programs are so impactful,” Governor Hochul said. “These transformational projects in Valley Stream and Patchogue are a commitment to Long Island’s future, where we will secure walkable downtowns, affordable housing, support for the arts and so much more. I’ll always keep fighting for Long Island.”
To receive funding from either the DRI or NY Forward program, localities must be certified under Governor Hochul’s Pro-Housing Communities Program, which recognizes and rewards municipalities actively working to unlock their housing potential and encourages others to follow suit. After becoming certified, localities have exclusive access to up to $750 million in discretionary state funding, including DRI and NY Forward. Since the launch of the Pro-Housing Communities Program, funds awarded to Pro-Housing Communities throughout the state have supported up to 20,000 more homes. To date, more than 410 communities across New York have been certified, including the Village of Valley Stream and the Village of Patchogue…