UTICA, N.Y. (WUTR/WFXV/WPNY) – Earlier today, Mayor Palmieri announced the City of Utica’s Business Assistance Fund. This new initiative is designed for business and property owners that fall within a specific section of the Downtown Revitalization Initiative (DRI) boundary.

As part of this program, applicable commercial business owners have the ability to leverage up to $70,000 in grant funds, with a $10,000 match from the applicant, and mixed-use project applicants can leverage up to $112,500 in grants, with a $75,000 match from the applicant.

And it’s important to note that successful applicants must fund the project in full, as grant funds can only be reimbursed at the completion of the project.

Mayor Palmieri said in a statement, “We have an obligation to do everything possible to assist our small businesses, and the Business Assistance Fund provides business and property owners in the DRI footprint a great opportunity to invest. I encourage all eligible applicants to apply for this assistance.”

All interested parties can find the application on the City of Utica’s website, and they will be accepted up to 5 PM on Wednesday, August 31st, and a public meeting to explain the program in greater detail will also be held on Wednesday, August 17th at 5 PM.