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Penn Yan Awarded $10 Million DRI Award

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This morning Lieutenant Governor Kathy Hochul announced that the village of Penn Yan will receive the state’s $10-million Downtown Revitalization Initiative (DRI) award in the Finger Lakes region. 

Penn Yan was selected following a competitive process conducted by the Finger Lakes Regional Economic Development Council (REDC).  The award provides up to $300,000 in planning funds to allow private-sector experts to collaborate with a local planning committee in the drafting of a Strategic Investment Plan identifying specific economic development, transportation, and housing and community projects.  Plans are expected to be completed by early next year. 

In a joint statement, Senator Tom O'Mara and Assemblyman Phil Palmesano stated: “It’s a great time of year in Penn Yan and across the Finger Lakes region, and this announcement makes it even brighter.  We are grateful for these ongoing, significant state investments to build stronger foundations for the future of the Finger Lakes region. This award will help the village and all of Yates County move forward, revitalize the downtown for businesses, visitors and residents alike, and keep fueling an ongoing renewal across the region.

New York State’s DRI seeks to assist short- and long-term local plans to transform neighborhoods, encourage business development, and expand private-sector economic growth.  The state is distributing $100 million in grants to select cities in each of the state’s 10 REDC regions.

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