New York Main Street Program

The New York Main Street (NYMS) program, administered by the Housing Trust Fund Corporation through the Office of Community Renewal, provides funding and technical assistance to support the revitalization of traditional main streets and neighborhood commercial districts throughout New York State. This program is designed to stimulate reinvestment in mixed-use commercial areas in urban, small town, and rural communities by enhancing the appearance, functionality, and economic sustainability of historically significant and underutilized downtown properties. Eligible applicants include units of local government and nonprofit organizations incorporated under New York State law that have been serving their communities for at least one year. These Local Program Administrators are responsible for administering the funds and ensuring compliance with program requirements. Target areas must exhibit signs of physical deterioration or disinvestment, contain substandard buildings or vacant commercial/residential units, and serve low-income populations. Typically, eligible areas encompass up to three contiguous blocks, though proposals for multiple non-contiguous areas are accepted if the applicant demonstrates administrative capacity. NYMS funds support a range of activities including building renovations, Downtown Anchor projects, and streetscape enhancements. Building Renovation grants provide matching funds to property owners for facade improvements and interior upgrades for commercial and residential spaces. Downtown Anchor grants support large-scale, single-site, shovel-ready renovation projects intended to serve as cultural, business, or residential hubs. Streetscape Enhancement grants are available only as ancillary to building renovation efforts and may cover improvements such as street furniture, trees, and signage. Matching funds are required on a per-building basis and must account for at least 25% of total project costs, with a minimum 10% owner contribution. Administrative and soft costs are capped and must follow procurement procedures. Residential units renovated with NYMS funds are subject to a five-year regulatory term, during which rents must remain affordable to households earning at or below 90% of area median income. Projects must also comply with accessibility standards, State Historic Preservation Office guidelines, and lead-based paint safety protocols. Applications must include a comprehensive program design, environmental review documentation, and financial projections. Awardees enter into a grant agreement and must follow all administrative requirements, including detailed reporting, monitoring, and a formal closeout process. Performance periods are set at 24 months, and projects are reimbursed upon completion. Contractual compliance includes filing a Property Maintenance Declaration and ensuring the long-term upkeep and affordability of assisted properties. The NYMS program operates on an annual funding cycle, with recurring opportunities. For the 2025 program year, the funding limit ranges from $50,000 to $500,000, with per-building assistance capped at $50,000 and additional support for residential units and anchor projects. Streetscape enhancements are capped at $15,000. Applications are accepted through the Office of Community Renewal, and details including forms, deadlines, and program updates are available on the New York State Homes and Community Renewal website.

Prioritize high-impact, visually prominent buildings; ensure target areas are tightly defined; secure match early; consult SHPO early in design