NYC DEPARTMENT OF SMALL BUSINESS SERVICES
PRESS RELEASE
$1.4 Million Awarded to 39 Economic Development Organizations To Help Fund Commercial Revitalization Projects in Low to Moderate-Income Neighborhoods Across NYC
New York City – The Department of Small Business Services today announced the 39 recipients of $1.4 million in Avenue NYC funding for FY15. Avenue NYC is a competitive grant program that provides funding for non-profit economic development organizations to implement commercial revitalization activities in the low and moderate-income districts they serve. Avenue NYC also offers a number of capacity building initiatives to support the efforts of organization staff and Board Members throughout the City. Capacity building trainings include topics such as financial management, program evaluation, fundraising and strategic planning. In FY14, organizations that received Avenue NYC funding attracted 53 new businesses to their corridors, recruited 355 new merchants to new and existing merchants associations, and improved 12 storefront facades.