The Village of Ilion, with the assistance of the Herkimer County Industrial Development Agency (HCIDA), has just received $2 million in Restore NY assistance to be used towards the Duofold site in Ilion, NY. With this grant, the Village of Ilion plans to put into motion a coordinated effort to regain jobs, improve housing stock, and attract private investment in order to keep the Village a place where people want to stay, work, and play.
Mayor John Stephens emphasizes the importance of this grant for the Village: “this is great news and just continues the positive progress we have with moving the Village forward with economic development and many other issues.” The Village has suffered from economic hardship and outmigration induced over the past two decades by deindustrialization. Manufacturing drawdowns and closures have lessened economic opportunities, caused housing values to fall due to the increasing number of vacant residential and commercial properties, and created patches of neighborhood blight.
The redevelopment of the site into a mixed-use area with 81 market-rate residences will aid in the beautification and revitalization of the Village, as well as the attraction and retention of businesses in the area. Redevelopment of the complex will also increase the Village’s tax base and increase property values throughout the Village. HCIDA’s CEO John Piseck explains, “we are excited to accept this grant and work with our developers and the Village of Ilion to continue this project and stimulate community and economic growth.”
Please contact John J. Piseck by cell at 315-868-4928, or email firstname.lastname@example.org, with any questions.