In the 2019 Downtown Revitalization Initiative (DRI) the City of Amsterdam was awarded funding, provided on behalf of Homes and Community Renewal (HCR) and the Housing Trust Fund Corporation (HTFC) of New York State, to establish a Downtown Improvement Fund (DIF).
The Downtown Improvement Fund is a matching reimbursable grant fund for interior and exterior building improvements within the DRI boundary to stimulate property upgrades and investments. The grant program promotes projects that include mixed-uses, create jobs, adhere to the Form-Based Code, and advance community revitalization goals.
The DIF has been developed to provide resources to stimulate investment and economic development through projects that align with the greater DRI Strategic Plan. This flexible funding mechanism enables property and business owners to make major renovations, restorations, and improvements to existing retail and commercial properties downtown. It strives to improve the cohesive appearance and vitality of downtown through façade and signage improvements. Ultimately, a population of people downtown will help foster the revitalization of downtown through increased spending that will come from increased visitation around downtown businesses.