Two local municipalities, the City of Peekskill and the Village of Ossining, are among the first round of winners in the new Mid-Hudson Momentum Fund program. Governor Kathy Hochul introduced the program last year as part of her efforts to incentivize new construction to address the state’s housing crunch.
Peekskill will receive $10 million for infrastructure improvements in the area surrounding Railroad Avenue, to permit sustainable mixed-use development near the Peekskill waterfront. Ossining will receive $10 million toward the construction of a new Indian Brook Water Treatment Plant.
Assemblywoman Dana Levenberg has been encouraging municipalities in her district to participate in this and other state programs designed to spur economic development and promote affordability, and wrote letters of support for both communities in this competition. “Our area is experiencing population and business growth, and I am hearing from my municipalities that to address these needs, they need help to make large-scale infrastructure improvements,” said Levenberg. “Congratulations to Ossining and Peekskill for putting forth strong applications for this funding. Their success is a testament to the hard work leaders in these communities are doing to attract investment and realize their potential. I was proud to support these applications, and I am grateful to Governor Hochul and Empire State Development for recognizing the need to support the Hudson Valley with dedicated funds that will help us capitalize on our post-pandemic opportunities without overburdening our local taxpayers.”
State Senator Pete Harckham said, “Governor Hochul’s directing of $10 million to both the Village of Ossining to build a new water treatment plant and the City of Peekskill for infrastructure improvements to support over 1,000 new homes is great news. The funding, which I advocated for and passed as part of the FY2024-2025 State Budget, is illustrative of the state’s strong commitment toward advancing new housing in our communities and strengthening the infrastructure necessary to do so. Ossining Mayor Levin, Ossining Town Supervisor Feldman and Peekskill Mayor Vivian McKenzie deserve our thanks for their leadership in ensuring much-needed investments in infrastructure remain a priority in their respective municipalities.”
“This funding will give Peekskill additional momentum as we continue to work to develop and beautify our city in a sustainable way,” said Peekskill Mayor Vivian McKenzie. “I am so pleased that Gov. Hochul and the State of New York have recognized the need for not only housing but affordable housing and have put grants like the Momentum Fund in the hands of municipalities like Peekskill that are committed to using these funds for infrastructure and improvements, which will enable Peekskill to support nearly 1100 new units of housing in the region. I thank the Governor, Assemblywoman Levenberg, Senator Harckham and the entire Momentum Team for their continued support.”
“The Village has remained committed to this vitally important project despite a sequence of really tough challenges, none of which anyone could have foreseen,” said Ossining Mayor Rika Levin. “We have stayed the course, looking under every rock for additional funding, because not only is affordable access to clean, safe drinking water a human right, it is also an economic development imperative in today’s climate. This award will enable us to successfully deliver this invaluable resource to our community with less burden on individual families and businesses, while integrating innovative environmental elements to decrease our carbon footprint. This is a win-win for not just the people of Ossining, but the people of Westchester and the entire Mid-Hudson region.”
The Mid-Hudson Momentum Fund is a $150 million program that invests in mixed-use housing and infrastructure projects throughout the mid-Hudson region, which has seen an influx of new visitors and residents from New York City and elsewhere since the pandemic. Population growth has strained the aging infrastructure in the area, and limited housing availability has pushed prices upward. The program is part of a multi-faceted strategy to help New York State successfully manage its post-pandemic challenges and promote affordability. Empire State Development is accepting applications for the program’s next round of funding through Thursday, June 28; interested applicants can visit https://esd.ny.gov/momentum to learn more and apply.
