SECRETARY CUOMO SAYS HUD FUNDING FOR CANAL PROJECT IN FULTON
WILL BENEFIT COMMUNITY; JOINS MAYOR STAFFORD IN CELEBRATION

U.S. Housing and Urban Development Secretary Andrew Cuomo - whose Department has provided over $6.3 million in Canal Corridor grants and loan guarantees to Fulton, NY - said today that the new Canal Landing Plaza in Fulton will help increase tourism, create jobs, and revitalize the community.

Speaking from Washington via TV satellite to the Canal Pride Day Celebration being held in Fulton to mark the completion of Canal Landing Plaza, Cuomo said: "Our funding for Canal Landing Plaza is an investment in a better, more prosperous future for Fulton and its people. This investment will pay long-term dividends by bringing more tourists, more jobs and more economic development to Fulton."

The Secretary praised Fulton Mayor Michael K. Stafford and other Fulton officials for working closely with HUD on the project.

"We have worked in partnership with Mayor Stafford and many others in Fulton to transform Canal Landing Plaza from a good idea into a beautiful reality," Cuomo said. "Without this partnership, Canal Landing Plaza would not exist."

Mayor Stafford said: "Secretary Andrew Cuomo's vision and HUD's continuing commitment to small cities like Fulton have made it possible for our city in particular to overcome some overwhelming economic odds. Through both the Canal corridor Initiative and the Small Cities Program, HUD serves as a strong partner in providing the tools necessary to provide better neighborhoods, more jobs and an overall higher quality of life for our citizens - and for that we are grateful."

Canal Landing Plaza is the final anchor in the City's redevelopment plan for its waterfront - complementing the Canal Park Marina expansion and the nearby Sealright Riverfront Complex. The project is part of the regional approach to development of the 23-mile Oswego Canal System which links Syracuse's Inner Harbor and the Oswego Harbor."

HUD's Canal Corridor Initiative provided $1.6 million for the creation of Canal Landing Plaza, and follows HUD's previously granted award of $2.2 million for the expansion of the Sealright Packaging Company in Fulton, which will help create 300 jobs. In total, HUD has provided $6.3 million to Fulton through the Canal Corridor Initiative and related programs.

Canal Landing Plaza will provide core services and activities for local residents, neighboring Canal communities and tourists. Project activities include the reopening of South First and Cayuga Streets to traffic for the downtown business district, development of the Canal Landing Retail Center, expansion of several businesses, development of the Canal Landing Plaza and improvement and expansion of the Canal Park Marina and docking facilities.

Since 1997, HUD and the U.S. Department of Agriculture have committed more than $300 million in assistance to communities along New York's Canal Corridor.

The Canal Corridor Initiative is designed to put federal resources to work as part of a long-term and coordinated commitment to upstate New York. The locally driven initiative seeks to turn the Erie Canal and connecting waterways that make up the Canal Corridor into a major tourism destination that will spark economic development across upstate.