Frequently Asked Questions

Who can submit a project?

Projects must have an identified sponsor, which can be a public, not-for-profit, or private entity with the capacity and legal authority to undertake the proposed project.

What is the Minimum Project Cost?

Projects should be large enough to be truly transformative for the downtown area. Standalone DRI projects must be at least $75,000 in total project cost. Projects less than $75,000 can be submitted through the Small Project Fund.

Are there exceptions to the $75,000 minimum project cost requirement?

Yes, special circumstances may allow exemption from the $75,000 minimum project cost after consultation with the consultant and State team.

Is Matching Funding Required for All Types of Projects?

Private projects require a minimum match of 25% of the total project cost. Public or not-for-profit projects do not have a minimum match requirement.

How soon must Projects Commence After Receiving DRI Funding?

Projects funded by the DRI must begin construction within two years of receiving funding.

How are DRI Funds Disbursed to Project Sponsors?

DRI funds are provided on a reimbursement basis, typically after expenses are incurred or upon project completion. Project sponsors will be expected to demonstrate financial capacity to complete the project while awaiting reimbursement.

What is Building Decarbonization, and Why is it Encouraged?

Building decarbonization involves making buildings more energy efficient and using emissions-free energy sources. It is encouraged to promote healthier buildings, lower utility bills, and support the State’s greenhouse gas reduction goals.

Which Projects are Required to Comply with Decarbonization Standards?

New construction, building additions, and substantial renovation projects over 5,000 square feet are required to comply with decarbonization standards. Projects meeting the criteria must follow one of the compliance pathways which include meeting the New York State Stretch Energy Code, achieving an Energy Star score of 90 or better, or obtaining certification from an approved third party organization like Energy Star or LEED.