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New York City Regional Economic Development Council Announces Consolidated Funding Application Workshops

Public Forums to learn about the CFA process and how to access up to $750 million in economic development funding from agency programs through one application
(May 09, 2012)

New York City Regional Economic Development Council Announces Consolidated Funding Application Workshops

The New York City Regional Economic Development Council today announced the launch of Consolidated Funding Application (CFA) workshops for the second round of Governor Andrew M. Cuomo's initiative to stimulate job creation and economic growth through the Regional Economic Development Councils.

The New York City REDC is focused on identifying as many quality projects as possible across the region that are consistent with the region's strategic plan. The New York City strategic plan is based on four key components, each with their own priority areas.

These key components assist those scoring the applications with assessing the degree to which each application reviewed is in accordance with the regional plan and with "existing regional economic development strategies and priorities." These components include: Improving the quality of life in New York City; creating pro-growth, pro-job environments where businesses are treated like customers; investing in New York City's future in areas like transportation and housing; and fostering innovation and inter-regional cooperation within the area.

Workshops will start in the third week of May and run through the end of June at over a dozen locations across the state, covering all ten regions. The workshops will include an overview of the application and CFA process followed by informational breakout sessions on specific areas of funding available for economic development projects. The workshops being held in the New York City region are as follows:

Queens - May 18, 2012
LaGuardia Community College

Staten Island - May 22, 2012
College of Staten Island

The Bronx - June 7, 2012
Hostos Community College

Manhattan - June 21, 2012
John Jay College

Brooklyn - June 28, 2012
Medgar Evers College

Last year, Governor Cuomo announced the creation of ten Regional Economic Development Councils to transform New York's approach to economic development. The Regional Councils exceeded all expectations and redefined the way New York invests in job creation. To build on that success and keep the momentum going, Governor Cuomo has launched a second round of up to $750 million in economic development funding, including $220 million to implement regional strategic plans and support priority projects - $150 million in capital and $70 million in tax credits from the Excelsior Jobs Program - and over $530 million from state agency programs through the CFA to support regionally significant economic development projects.

As part of the Regional Council initiative, the NYS Consolidated Funding Application (CFA) was created to serve as the single application economic development projects must complete to be eligible to access the state resources that have been made available to support the Regional Councils. The CFA allows an applicant to access multiple funding sources from dozens of existing programs through one comprehensive, web-based application.

For the second round, the CFA will provide access to economic development resources from 21 programs across a dozen state agencies. Improvements to the CFA in 2012 have made it an even more business-friendly and productive tool for economic development. It will remain the primary portal for businesses to apply for state agency resources, including resources for community development, direct assistance to business, waterfront revitalization, energy and environmental improvements, sustainability, workforce development, agricultural economic development and low-cost financing.

State agencies and authorities making resources available in the 2012 CFA include: Empire State Development; NYS Canal Corporation; NYS Energy Research and Development Authority; Environmental Facilities Corporation; Homes and Community Renewal; Department of Labor; Parks, Recreation and Historic Preservation; Department of State; New York Power Authority; Agriculture and Markets; Department of Environment Conservation; and the Council on the Arts. Applicants must submit their CFA by July 16, 2012.

In addition, the New York Power Authority and Economic Development Power Allocation Board (EDPAB) will be using the CFA to implement "Recharge New York," a new, low-cost power program for New York businesses and not-for-profits. NYSERDA will continue to accept applications to its open enrollment programs until all funds have been exhausted

Once the CFA is submitted by the applicant, it goes to the local Regional Council to be reviewed and ranked as part of its strategic planning process.

Application materials are available online at http://nyworks.ny.gov.

Schedule for CFA Workshops:

May 18, 2012: 8:00am
LaGuardia Community College (CUNY)
31-10 Thomson Avenue
Long Island City, NY 11101

May 22, 2012: 9:30am
The College of Staten Island (CUNY)
2800 Victory Boulevard
Staten Island, NY 10314

June 7, 2012: 8:00am
Hostos Community College
500 Grand Concourse
Bronx, NY 10451

June 21, 2012: 8:00am
John Jay College
524 West 59th Street
New York, NY 10019

June 28, 2012: 8:00am
Medgar Evers College
1650 Bedford Avenue
New York, NY 11225

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