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Posted on: November 28, 2023

Troy Secures $100K in State Waterfront Revitalization Funding

TROY, N.Y. – The Madden Administration announced that the City of Troy was selected to receive $100,000 in Local Waterfront Revitalization Program funding. The funding will help Troy identify a vision and guide development for the City's eight-mile Hudson River waterfront, while aligning with the recently completed zoning update "ReCode Troy" and addressing the city’s smart growth, resiliency and sustainability goals.
 
As climate change continues to pose new and evolving challenges for local governments, Troy is working with our partners in state government to spur economic growth and the equitable development of housing along our waterfront while improving our infrastructure and community resilience,” said Mayor WM. Patrick Madden. “Our selection for state Local Waterfront Revitalization Program funding will transform what is possible for the future of our waterfront, and I thank Governor Hochul and Assemblymember McDonald for their support of the City of Troy.”
 
 The Local Waterfront Revitalization Program (LWRP), funded through the New York State the Environmental Protection Fund (EPF), provides grants to communities to develop a community-driven plan with a vision for their waterfront, guided by several environmental policies to ensure projects work in harmony with waterfront natural resources and ecosystems. The funding was awarded as part of $23 million in state funding to support 101 communities across the state through part of Round XIII of the Regional Economic Development Council Initiative.
 
Assemblymember John T. McDonald III, RPh: “Congratulations to the City of Troy for being awarded $100,000 in funding through New York's Local Waterfront Revitalization Program. This grant will further Troy's progress in developing the Hudson River waterfront by allowing the community to plan their own economic future and find the best way to benefit residents, businesses, and visitors alike. I am excited to see the positive impact this funding will have on the community and the entire Capital Region.” 
 
Troy Commissioner of Planning and Economic Development, Dylan Turek: “Troy is fortunate to have direct access to so much waterfront and nearly every neighborhood lives within a few miles of the Hudson River. Cities that commit to working closely with communities and developers to realize a shared vision for their waterfront  experience the greatest return through growing property values and increased revenue as far as 3 miles away.   With our coming submission to nominate 200+ acres of the S. Troy waterfront for Brownfield Opportunity Area designation working in concert with the U.S. EPA Assessment grant that was awarded in 2021, adopting a new LWRP dovetails perfectly into our proactive approach. Opportunities to masterplan a new waterfront neighborhood are extremely rare and we want to make sure that we do it right since the opportunity won’t come again for at least a century.” 
 
 The Planning Department is responsible for the planning, development, coordination and promotion of the physical, social and economic well-being of the City. The department serves as staff and adviser to the City's Planning Commission, Historic District Commission, and Zoning Board of Appeals. The department also serves as a staff and advisor to the Troy Industrial Development Authority, Troy Local Development Corporation, and Troy Capital Resource Corporation.
 
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