HUD TO PROVIDE $300,000 IN ECONOMIC DEVELOPMENT ASSISTANCE TO BENEFIT AMSTERDAM AREA

AMSTERDAM, NY - The U.S. Department of Housing and Urban Development will provide $300,000 in economic development assistance to benefit the Amsterdam area and to provide information to other cities about community revitalization.

HUD Secretary Andrew Cuomo, who was in Amsterdam today with Vice President Al Gore, said the HUD assistance will consist of:

• A $100,000 grant to Fulton-Montgomery Community College to study how community colleges and other "anchor" institutions - such as businesses, civic organizations and charitable groups - can work together to revitalize small and mid-size older cities that have lost established industries. The State University of New York at Albany will also participate in the study. A report issued today by Cornell University on the Canal Corridor Initiative calls for colleges and other community institutions to work together to strengthen local economies.

• $100,000 worth of technical assistance to Amsterdam to help the city devise a redevelopment strategy for abandoned commercial and residential buildings.

• $100,000 to Montgomery County to draw up a regional economic development and job creation strategy.

Content Archived: January 20, 2009