Better Buffalo Fund
The Better Buffalo Fund aims to create vibrant, mixed-use, high-density neighborhoods and is focused on giving all residents of the City of Buffalo greater access to the major employment hubs - projected to create thousands of jobs and increase the city’s tax base. Announced as part of Governor Cuomo’s Buffalo Billion initiative, the $30 million fund will create stronger transit and transportation access linkages between neighborhoods and existing and growing employment centers, job training and services.
The Better Buffalo Fund offers grants and revolving loan funds through two initiatives - Transit Oriented Development and Buffalo Main Streets. The application period for Round 2 of the Better Buffalo Fund closed on March 28, 2016. Click here for more information.
Governor Andrew M. Cuomo announced on August 19, 2016 a total of 14 projects, including five on the East Side of Buffalo, received funding awards totaling $9,130,042 through Round Two of the Better Buffalo Fund. The fund was established to support projects that encourage density and growth along transportation corridors and revitalize neighborhood commercial districts. This second round of funding will help complete the renovation of more than 250 residential units and more than 140,000 square feet of store front and commercial space while leveraging over $131.4 million in private investment.
BETTER BUFFALO FUND AWARDED PROJECTS
Transit-Oriented Development Awarded Projects
**Nine Transit-Oriented Development awards totaling $7,769,134 in grants and loans.
A grant and revolving loan fund for up to $2 million in gap financing for adaptive reuse or infill capital projects, which promote dense development (housing, employment and retail) within 1/2 mile walking distance of transit stops on Main Street, Niagara Street, Bailey Avenue, Utica Street Grant Street, and Fillmore Avenue corridors; and encourage the use of multi-modal transportation, and stimulate pedestrian activity through retail and neighborhood-oriented businesses and services, quality public spaces and accessible walkways.
- Pilgrim Village Redevelopment (Campus Square) - $2,000,000
- School 77 - $1,553,974
- Rosanna Elizabeth VPAC Arts Campus - $1,500,000
- 510 Washington Street - $750,000
- Main St Louis - $600,000
- The Mattress Factory - $500,000
- BracoLinwood - $365,160
- 136 North Pearl - $250,000
- Cold Springs on Main - $250,000
Buffalo Main Street Initiative Awarded Projects
**Five Main Streets awards totaling $1,360,908 in grants.
A program modeled on the New York State Main Street program, the Buffalo Main Streets Initiative will assist in the revitalization of historic downtowns and mixed-use neighborhood commercial districts. The program considered grant requests from non-profit organizations for building renovations and public space enhancements in discrete, mixed-use target areas, with direct coordination from the local non-profit community based organization/business association. New York State Homes and Community Renewal will be administering these grants.
- Better on Bailey Avenue- $300,000
- Clinton Street Buffalo Main Streets Initiative - $300,000
- Jefferson Avenue Initiative 1 - $300,000
- Revive Allentown - $300,000
- Black Rock Village - Upper Niagara Street - $160,908
A description of all the projects can be found here.
The Better Buffalo Fund is the primary vehicle under the Buffalo Billion to foster the transformation of the City of Buffalo’s physical environment by improving transportation and revitalizing neighborhoods. With the tremendous expected economic and job growth facilitated through Buffalo Billion initiatives—now numbering thousands of new jobs—the Better Buffalo Fund will ensure people are connected to those jobs.
May 2017 - Governor Cuomo Announces the Grand Opening of The Siano Building in Buffalo
January 2017 - ESD Announces Restoration of Historic Parkside Candy Business to Begin
August 2016 - Governor Cuomo Announces More Than $9 Million in Better Buffalo Fund Awards
June 2016 - ESD Announces Unveiling of Turner Brothers' Lofts
February 2016 - Governor Cuomo Announces Grand Opening of Newly Renovated Varsity Theatre on Buffalo's East Side
February 2016 - Governor Cuomo Announces Applications Now Available for Second Round of $30 Million Better Buffalo Fund
April 2015 - Governor Cuomo Announces Recipients of Better Buffalo Fund Incentives
October 2014 - Governor Cuomo Announces Applications Now Available for Better Buffalo Fund
September 2014 - Governor Cuomo Announces First Phase of Major Redevelopment Project on Buffalo's East Side