Grant approved for city IDA
AMSTERDAM – The Empire State Development’s Board of Directors recently approved a grant of up to $225,000 for the Amsterdam Industrial Development Agency.
According to a news release, the AIDA will use the grant to help pay for the construction and renovation of two vacant buildings in the city’s central business district.
In December 2012, the release said, AIDA and other state agencies targeted the city’s Downtown Central Business District for extensive rehabilitation to make the area more accessible and attractive.
AIDA identified two adjacent buildings, 44 and 46 E. Main St. – formerly owned by the Montgomery County United Way – that could serve as cornerstones in the downtown area, the release said.
According to the release, the AIDA hoped to rehabilitate the buildings and rent them to new business tenants, but encountered a funding gap in their budget plan. AIDA applied for support in completing the rehabilitation of the buildings, the release said.
“Without ESD’s assistance, the rehabilitation of the building’s could not have taken place,” the release said.