Investment and grant opportunities specifically available for the First Ward in Bingh

[James Lucenti]

1. Downtown Revitalization Initiative (DRI) – $10 million

• Binghamton was selected as the Southern Tier winner of the 8th round of New York State’s DRI, providing $10 million for transformative redevelopment projects along Clinton Street in the First Ward (binghamton-ny.gov).
• Funds will be used to support small business growth, housing improvements, arts, culture, and infrastructure enhancements—with dedicated planning guided by a Local Planning Committee (binghamton-ny.gov).

2. Restore NY & Scatter-Site Revitalization Funding

• Broome County applied for up to $3 million in Restore NY funds to assist in renovating scattered vacant buildings in the First Ward—targeting multiple addresses to eliminate blight (broomecountyny.gov).

3. First Ward-Specific Home Repair Grants (T-HIP)

• Through local initiatives like the First Ward Action Council, homeowners can access up to $5 million in assistance for critical home repairs such as roofs and porches (wbng.com).

4. BLDC & IDA Economic Development Programs

• The Binghamton Local Development Corporation offers low-interest loans for building purchase, renovation, equipment, and startup costs (binghamton-ny.gov).
• The Broome County IDA supports small business growth through grants—such as their Small Business Development Grant (up to $50 K per business) and small business assistance totaling ~$5.5 million in new investments (theagency-ny.com).

5. Energy Efficiency & Weatherization Programs

• Programs like NYSERDA’s EmPower NY and county-run weatherization grants help low-to-moderate income homeowners upgrade energy efficiency (insulation, heating, appliances) (broomecountyny.gov).

How to Access These Opportunities

Program	Who to Contact	Eligibility / Steps
DRI	City Planning Dept & LPC	Community input process; wait for RFPs for local projects
Restore NY	Broome County IDA or Planning	Assess if your property is within target addresses
Home Repair Grants	First Ward Action Council	Income-eligible owners in First Ward
BLDC Loans/IDA Grants	Binghamton Local Development Corporation & Broome County IDA	Businesses ready to invest/expand
NYSERDA & Weatherization	Broome County OFA / NYSERDA	Income-based eligibility; apply via program websites

✅ Next Steps

1. Define your interest – property rehabilitation, rental development, small business, energy upgrades, etc.
2. Engage early – apply to open Calls for Projects (DRI, Restore NY), or contact agencies directly.
3. Win technical support – Local Planning Committee, BLDC and IDA provide guidance on proposals and eligibility.
4. Combine funding sources – leverage multiple programs (e.g., combine Restore NY and NYSERDA for a single site).