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Vol. 4 - Issue 9

All Hands Debrief on NY Forward and DRI

In 2022, Governor Hochul announced the creation of the NY Forward program to invigorate and enliven downtowns in New York’s smaller and rural communities – the type of downtowns found in villages, hamlets and other small, neighborhood-scale municipal centers.  

NY Forward builds on the success of the Downtown Revitalization Initiative (DRI) by adopting the same “Plan-then-Act” strategy as the DRI.  

The State has allocated $100 million for the first round of NY Forward. Each of the State’s ten Regional Economic Development Councils (REDCs) will have the option of recommending two communities for $4.5 million NY Forward awards or three communities one of which will receive $4.5 million and two will be awarded $2.25 million. 

The NY Department of State (DOS) would like to engage New York’s CDFIs in the DRI/NY Forward program.  

In the past, seasoned developers have been more apt to meet the condensed planning timeline and take advantage of the DRI process and funds; however, traditionally under-resourced project sponsors (private and nonprofit) have had a difficult time identifying additional funding sources and accessing the technical assistance needed. 

The Office of Planning, Development & Community Infrastructure of the NY DOS is compiling a list of CDFIs that provide services that applicants might need. 

We hope you’ll take a moment to complete this brief survey, then join us on Friday, May 19, for our All Hands Zoom on the DRI / NYForward process. (Thanks to those of you who have already taken the survey!) 

Be well,
Colleen

PS: Please note - this is a NEW Zoom link for the next year of All Hands meetings. If you've registered for previous All Hands meetings, please be sure to update any calendar holds you may have.  https://us06web.zoom.us/meeting/register/tZAvf-ihrDooHtAooK6dLASgJfMqgir9Ijcp

Thank you for a successful conference! 


We've updated our website with a recap of the NYS CDFI Coalition's 2023 conference, titled NYS CDFIs: Meeting the Moment. 

We're so grateful to all who attended, to our sponsors, to all of our panelists and presenters, and for everyone who attended and shared their industry insight.

If you haven't already shared your feedback on the conference, please complete this short survey. We'll be planning for the 2024 conference soon and want to make sure we provide the greatest value for our members.

Thank you for all you do!

Annual Meeting of Members
Friday, June 16 - 12 noon - 1 p.m. on Zoom

Please mark your calendars for the annual meeting of members of the NYS CDFI Coalition which will be held on Zoom on Friday, June 16 from 12 - 1 p.m. 

At the meeting, in addition to specific agenda items, we will discuss generally the operations of the NYS CDFI Coalition. We welcome any questions you have concerning the Coalition and will provide time during the meeting for questions from our members.

Watch your inbox for an invitation - and if your membership is not up to date (check this page) please scroll down for options to pay your 2023 dues. 

We'll hope to see you next month!

 

Watch your inbox for an invitation to renew your membership, or to join the NYS CDFI Coalition! 

Coalition members receive discounted tickets to the conference, and we're hoping that's just one of the many reasons that inspire you to support our work!

The NYS CDFI Coalition is also accepting membership applications and renewals 
on our website for your convenience. Please consider lending your support to the NYS CDFI Coalition as a Certified CDFI, Emerging CDFI, or Non-Profit Associate Member (Advocate, Community Organization, University.)

Remember - we invite Coalition members to submit updates you would like to share with our statewide audience. These include job postings, Success Stories or Guest Posts for consideration. Thank you for all you do! 

Colleen M. Ryan
Consulting Executive Director
NYS CDFI Coalition

PS: Do you need to pay from an invoice?
Let me know and I'll send one.

Review previous issues of "New Developments" in the Archive
Our Mission

Our mission is to position CDFIs as the most effective strategy and policy tool to address issues of financial inclusion, housing access and economic opportunity in New York State. Please visit our website to learn more.
 
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