2021 Consolidated Funding Application Process Now Open, Beginning the 11th Round of Regional Economic Development Council Initiative
On May 10, 2021, New York Governor Andrew Cuomo announced the 11th round of the Regional Economic Development Councils (REDC) initiative with the opening of the Consolidated Funding Application (CFA) process. All ten of New York State’s regions, as represented by ten Regional Councils, will compete for a share of up to $150 million in Empire State Development (ESD) capital grants and $75 million in Excelsior Tax Credits. The deadline for applications is Friday, July 30, at 4 p.m., and all CFA grants are subject to the 30 percent minority-and-women-owned business enterprises contract goals.
Governor Cuomo established the REDC process in 2011 to create a regional strategy for economic development targeted toward community and economic revitalization. Each Regional Council is comprised of community leaders, businesspeople, academic leaders, and members of the public—all of whom advise state agencies on the programs and projects most valuable to the region and that promote local and state priorities. This year, each council may identify up to $20 million in ESD grants for projects throughout the year, with a focus on those proposals that address the new regional challenges and actions needed for recovery following the COVID-19 pandemic. For projects seeking ESD grants, applications will be reviewed on a rolling, competitive basis at least once per quarter, with awards being made available as they are approved until the $150 million is fully committed.
In addition to the ESD grants, several other programs will similarly accept applications on a rolling basis and not be subject to the July 30, 2021 deadline. They include:
- Up to $75 million in Excelsior Tax Credits for eligible projects
- Up to $3 million for Energy Efficiency Programs
- Up to 22 megawatts for the ReCharge NY Program
- Up to $300 million for the Industrial Development Bond Cap
Over $525 million in other state agency funds will be awarded to applicants (including nonprofit and for-profit entities) that submit applications by the July 30 deadline. Agency program funding includes the following:
- Empire State Development will provide up to $29.5 million for strategic planning and feasibility studies, Market New York and the Business Incubator & Innovation Hot Spot Support Program.
- Division of Homes and Community Renewal will provide up to $26.2 million for projects from the NYS Community Development Block Grant Program and NY Main Street Program.
- Office of Parks, Recreation and Historic Preservation will provide up to $21.4 million in Environmental Protection Fund grants for Parks, Preservation and Heritage, and Recreational Trails Program projects.
- Department of State will provide up to $36.25 million for projects pursuant to the Local Waterfront Revitalization Program, the Brownfield Opportunity Area Program, the Smart Growth Comprehensive Planning Grant Program and the Local Government Efficiency Program.
- New York State Canal Corporation will provide up to $1 million for projects in the Canalway Grants Program.
- NYS Energy Research & Development Authority will provide up to $30 million for projects pursuant to the Carbon Neutral Economic Development Program and the Commercial and Industrial Carbon Challenge.
- Department of Environmental Conservation will provide up to $79 million for projects in the Climate Smart Communities Grant Program, the Water Quality Improvement Project Program, and the Non-Agricultural Nonpoint Source Planning and Municipal Separate Storm Sewer System Mapping Grant Program.
- Environmental Facilities Corporation will provide up to $17.5 million for projects pursuant to the Green Innovation Grant Program and the Wastewater Infrastructure Engineering Planning Grant.
More information related to REDC can be found here. The REDC’s Available CFA Resources document can be found here, the CFA Application Guide can be found here and the CFA Application can be found here. Program questions can be found here, and 2021 REDC webinars can be found here.
If you would like to discuss with a member of the Manatt team, please do not hesitate to reach out.