Albany BOA
February 15, 2022

NEW YORK STATE DEPARTMENT OF STATE DESIGNATES ALBANY’S SHERIDAN HOLLOW AREA AS BROWNFIELD OPPORTUNITY AREA

NEW YORK STATE DEPARTMENT OF STATE DESIGNATES ALBANY’S SHERIDAN HOLLOW AREA AS BROWNFIELD OPPORTUNITY AREA
Designation Will Revitalize Approximately 106 acres in the Heart of Albany known as Sheridan Hollow
BOA to Provide Tools to Revitalize Blighted Areas and Spur Economic Development

New York State Acting Secretary of State Robert J. Rodriguez today announced the designation of the Sheridan Hollow area in Albany as a Brownfield Opportunity Area (BOA), which includes approximately 106 acres in the largely residential neighborhood of Sheridan Hollow. This designation gives the City of Albany the tools to fast-track revitalization efforts and foster redevelopment of key sites transforming them into catalysts for economic growth while addressing environmental justice. 

Acting Secretary of State Robert J. Rodriguez said, “The designation of Albany’s Sheridan Hollow neighborhood as a Brownfield Opportunity Area is the State’s latest investment to help bring Albany closer to their renewal and economic goals. The BOA designation will amplify the work already underway as part of Albany’s $10 million DRI by creating additional economic development, strengthening the sense of community and enhancing resiliency projects in another section of the City. The Department of State looks forward to continuing our work with Albany to spur redevelopment and enhance environmentally sustainable neighborhoods in the region.”

New York State Department of Environmental Conservation Commissioner Basil Seggos said, “In partnership with the Department of State’s BOA program, DEC is working to restore underutilized former industrial properties through the Brownfield Cleanup Program. Together, these State programs help communities across the State protect public health, improve the environment, and develop local assets to strengthen economies. DEC continues to work with our state and local partners in the Sheridan Hollow community to breathe new life into this historic section of the city of Albany."    

The Affordable Housing Partnership of the Capital Region, which led the effort for the nomination, received two grants from the Department of State BOA program totaling $554,400 to support the preparation of the nomination. The designated area, which is bounded by Clinton Avenue, Pearl Street, Elk Street and Lexington Avenue, is affected by multiple brownfield sites. The nomination proposes site-specific development projects as well as other actions and policies that build off the momentum generated by several recent investments in the neighborhood. These proposals are backed by strong community support and are designed to revitalize Sheridan Hollow by improving quality of life, fostering future investment and partnerships. The key recommendations contained in this BOA nomination focus on projects and other actions that will become channels for redevelopment and neighborhood revitalization within the Brownfield area.

The recommendations of the BOA include:

  • Mobility projects that connect and extend transportation networks and pedestrian connectivity in the neighborhood;
  • Public realm projects that enhance and expand park spaces and implement green infrastructure;
  • Redevelopment of key vacant and underutilized sites including the Freihofer Building and mixed-use developments on the Orange Street and Clinton Avenue corridors; and
  •  Implementing policies and programs to encourage home ownership, building rehabilitation, and neighborhood sustainability.

State Senator Neil Breslin said, “I am glad to see the NYS Department of State has designated the Sheridan Hollow neighborhood as a brownfield opportunity area. This neighborhood has been neglected and harmed by pollution for decades. With this designation, plans can be developed to make sure that we bring new life and development into this neighborhood. I will work with community partners in the area to make sure there is economic opportunity, as well as social and environmental justice for the people of the Sheridan Hollow neighborhood.”

Assemblymember Patricia Fahy said, “Today’s Brownfield Opportunity Area (BOA) announcement for Albany is yet another sign that our City is rebounding from the COVID-19 pandemic and investing in long-term strategies for growth that prioritize our historically disadvantaged communities. BOAs help local communities leverage investment in expanding multi-modal and alternative transportation methods, connecting neighborhoods, and breathing new life into vacant and abandoned properties. I look forward to continuing this partnership with Governor Kathy Hochul to ensure New York’s Capital City continues to uplift all of our communities as we move forward.”

Assemblymember John T. McDonald III said, “Designating the Sheridan Hollow area as a Brownfield Opportunity Area will provide access to incentives and resources to help revitalize the community. Thank you to the Affordable Housing Partnership for your leadership on this issue and for your continuous support for Sheridan Hollow.”

Albany Mayor Kathy Sheehan said, “Designating Sheridan Hollow as a Brownfield Opportunity Area will help spur new investment in public infrastructure, affordable home ownership opportunities, and small businesses. Thank you to Governor Hochul, Secretary of State Rodriguez, and Commissioner Seggos for their continued commitment to helping revitalize the Sheridan Hollow neighborhood and reversing decades of disinvestment.”

Albany County Executive Dan McCoy said, “The designation of Sheridan Hollow as a Brownfield Opportunity Area is an important step in not only addressing the environmental injustice in this neighborhood, but also working towards health and economic equity. We cannot stand idly by while minority communities are left to bear the brunt of pollution and climate change. This critical funding will support green infrastructure projects, sustainability, walkability, improved quality of life and economic development, and I want to thank our State partners for making the investment.”

Affordable Housing Partnership of the Capital Region Director of Special Projects Louise McNeilly said, “We appreciate the opportunity offered by the Department of State to work with residents of Sheridan Hollow and its Neighborhood Association to create a community-driven redevelopment plan. The plan will attract needed resources to redevelop housing stock, commercial spaces and infrastructure to ensure that Sheridan Hollow is a community of choice.”

New York State provides a tax credit incentive to encourage private-sector cleanup and redevelopment of brownfield sites in designated BOAs that conform with the community's vision for the revitalization of their neighborhood. This tax credit bonus is available to projects on properties enrolled in the Brownfield Cleanup Program, administered by the Department of Environmental Conservation. The Secretary of State determines if projects are in conformance with the goals and priorities of the designated BOA.

The BOA designations help local communities implement strategies to revitalize and rebuild neighborhoods affected by dormant and blighted brownfield properties and environmental injustices. Municipalities and not-for-profits may also apply for BOA pre-development grants to advance projects within the designated BOAs.

Developers, property owners and others with projects and properties located within the designated BOAs will be eligible to access additional Brownfield Cleanup Program tax incentives to develop projects aimed at transforming dormant and blighted areas in their communities and putting them back into productive use. In addition, projects within each designated BOA will be entitled to receive priority and preference for certain State grants.

In her 2022 State of the State Agenda and 2022-2023 Executive Budget, Governor Kathy Hochul proposed to build upon the success of New York State's Brownfield Cleanup Program (BCP) by extending and expanding the program, which is set to expire in December 2022. The proposal, which includes the 10-year extension, would reauthorize the program and improve it by making property tax credits available in certain disadvantaged, low-income communities, and providing credits for the development of certain renewable energy facility sites to help focus BCP-driven redevelopment and meet the State's ambitious climate goals. Governor Hochul also plans to grow the State's Brownfield Opportunity Area program, which provides communities with guidance, expertise, and financial assistance to help develop revitalization strategies for areas affected by urban blight or economic distress. For more information about the BCP, visit DEC's website.

Further information, including designation details and nomination planning documents associated with the Brownfield Opportunity Area Program, as well as information about the Brownfield Cleanup Program tax credit incentive for projects in designated BOAs, can be found on the Department of State website, here.

 

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