Governor Andrew Cuomo has announced the opening of the application period for Round 4 of the $40 million Better Buffalo Fund.
The Better Buffalo Fund is dedicated to projects that revitalize neighborhood commercial districts and encourage density and growth along transportation corridors. For Round 4, the geography for the fund has been extended to include Broadway (between Cedar and Mortimer streets) and Main St. (between Mohawk and Seneca streets).
“We’re launching another round of the Better Buffalo Fund to support the revitalization of neighborhoods, improve commuter access to transit stops and walkable areas, and help ensure the resurgence and economic progress in Western New York continues,” Gov. Cuomo stated.
The launch of Round 4 builds on the previous three rounds of the Better Buffalo Fund, which awarded more than $27 million to 43 projects. These projects are renovating nearly 500 residential units and more than 342,000 sq. ft. of store front and commercial space, while also leveraging over $216 million in private investment in the City of Buffalo.
Four target areas were removed from the program – Bailey, Broadway/Fillmore, Fillmore/MLK and Jefferson Avenue – as funding is being allocated to those areas through specific programming in the $50 million East Side Economic Development Corridor Fund.
Applicants for the fourth round of Better Buffalo Fund may seek funding for one of two initiatives: Transit-oriented development or Buffalo Main Streets.
Up to $2 million in gap financing is available for projects that encourage the use of multi-modal transportation and stimulate pedestrian activity though retail and neighborhood-oriented businesses and services, quality public space, and accessible walkways. The target region for the development is within a quarter-mile walking distance of Buffalo transit stops on Bailey Ave., Grant St., Main St., Niagara St., Utica St. and Fillmore Ave. corridors.
Grants ranging from $50,000 to $1 million are available for non-profit and neighborhood business associations in the City of Buffalo that will renovate some of the most promising spaces in the downtown area. The Buffalo Main Streets Initiative is targeting Allentown, Broadway, Chippewa Street, East Delavan, Elmwood Village, Grant/Amherst, Grant/Ferry, Hertel, Kaisertown, Lovejoy, Lower Niagara/Lakeview, Main St., Seneca-Caz, South Park, Tonawanda/Ontario, Upper Niagara St. and Connecticut St. corridors.
The application and materials for Round 4 are due by November 8.