For Immediate Release
May 16, 2019
Mayor Madden: City Advancing South Troy Waterfront Revitalization Plan
City preparing Brownfield Opportunity Area (BOA) nomination application to support revitalization of South Troy waterfront, adjacent neighborhoods
BOA program establishes strategies to return underutilized and dormant parcels into productive, catalytic properties — fostering redevelopment, growing the tax base, and creating jobs
Mayor Madden: revitalizing South Troy waterfront part of administration’s comprehensive approach to neighborhood revitalization, economic development, connecting residents to Hudson River
TROY, NY – Mayor Patrick Madden today announced the City of Troy in partnership with the Troy Industrial Development Agency (TIDA) will seek to transform the South Troy waterfront through New York State’s Brownfield Opportunity Area (BOA) Program. The BOA nomination application is an area-wide approach that will inventory brownfield sites, document their existing conditions, and identify potential reuse for the parcels. The application will be submitted to the NYS Department of State for its consideration in designating the South Troy Waterfront a BOA.
Mayor Madden said, “Unlocking the potential of the South Troy waterfront is critical to supporting the creation of local jobs, expanding our tax base, and development of economic opportunities in our neighborhoods. The Brownfield Opportunity Area program offers assistance to transform historical industrial sites for redevelopment, part of our comprehensive approach to reconnecting neighborhoods to the Hudson River and opportunities it offers to the public.”
The South Troy waterfront Brownfield Opportunity Area (BOA) generally includes properties between the Hudson River and First Street from the Menands Bridge north to Congress Street.
Key outcomes of a BOA nomination application include developing strategies to achieve revitalization, informing site clean-ups, identifying neat shovel ready sites and priorities for investment. Parcels within areas designated by the Secretary of State are also eligible for enhanced tax credits to offset a portion of eligible cleanup and development costs. Future New York State grant applications in the area will have additional points added to their scoring review.
Redevelopment of the South Troy waterfront was identified as a major reinvestment area in the ‘Realize Troy’ comprehensive plan. Brownfield sites make up approximately 85% of land along the Hudson River between Canal Avenue and Tyler Street. Approximately 75% of the area between Tyler Street and the Menands Bridge along the river also contains brownfield sites. Cleanup and remediation work has occurred in parts of both areas. Revitalization of the South Troy neighborhood also includes the construction of the South Troy Industrial Park Road which will route heavy truck traffic around existing neighborhoods and providing additional incentive to redevelop waterfront areas.
To learn more about the city’s BOA nomination application, the public is invited to attend a presentation on June 11th at 6:00 p.m. at the Osgood Neighborhood Meeting at TAUM, 392 2nd Street.
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John Salka, Deputy Director of Public Information
[email protected] / (518) 279-7131