The Elmwood Village Association (EVA) will soon be disseminating $300,000 to property owners in certain quadrants along Elmwood Avenue. The Better Buffalo Fund Buffalo Main Streets Grant Initiative is part of a matching grant program, which can be applied to the renovation or restoration of commercial or residential properties. New York State Office of Community Renewal has allocated the funds intended to revitalize the EVA neighborhood.
This could be the perfect time for residential property owners to consider transitioning a lower unit to commercial space. According to the EVA, “Matching funds* are leveraged to help communities build the capacity required to grow their neighborhood retail districts.” What better way to “grow” a neighborhood retail distract than to create additional retail spaces for the residents to frequent?
The grant funds can only be applied for by building owners between Allen and North Streets, between Lexington Avenue and Bryant Street, and between Lafayette Avenue and West Ferry Street.
Public meetings for property and business owners within the target zones will be held on the following dates:
Allen to North Street – Wednesday, January 27th from 6 to 7 pm at Autism Services, 124 Elmwood Avenue
Bryant Street to Lexington Avenue – Friday, January 29th from Noon to 1 pm at Crane Branch Library
West Ferry Street to Lafayette Avenue – Thursday, January 28th from 9 to 10 am at Elmwood Village Association Offices, 875 Elmwood Avenue
Building owners will be informed about eligibility and process at the meetings. Anyone is welcome to attend a meeting, to learn more about grant funding opportunities. These types of matching grant initiatives have been extremely successful in previous years. Last year, $500,000 was allotted to the EVA via a NY Main Street grant. The outcome was tremendous, with 14 projects (53 residential units and 21 commercial units) benefitting. The public/private investment ultimately led to $6.77 million in investment.
*Projects may receive up to $50,000 per building, plus an additional $25,000 toward each residential unit renovated, not to exceed 75% of total project costs or $150,000 per building, whichever is less.
Property and business owners can register for the meetings in advance by calling 716-881-0707 or by emailing firstname.lastname@example.org.