City Applies for REDC Funding

Published 06/17 2014 04:59PM

Updated 06/17 2014 05:13PM

The City of Binghamton is applying for state regional economic development council funding for four major projects.

The city's application includes a request for $7.7 million for the Collier Street Commons proposal, which is a public-private partnership between the city and Newman Development Group.

The project would rebuild the parking ramp and add housing on top of it and retail space on the bottom two floors.

The entire project is slated to cost about $38 million.

The city is also seeking half a million dollars to help redevelop 70 to 72 Court St. in downtown Binghamton.

A private developer has proposed constructing a four to five-story building at the site.

$200,000 is being sought to allow the city to give incentives for property owners in certain areas to improve their facades.

And, Mayor Rich David is asking for $75,000 to help market the city better.

The proposals will likely be submitted in the Southern Tier region's application to the state for money.

Each region of the state competes for state tax dollars that have been set aside for economic development efforts.

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