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YOUR only SOURCE FOR regional BUSINESS NEWS | westfaironline.com
July 16, 2012 | VOL. 48, No. 29
john golden
aging energy grid sparks wealth of proposals BY PATRICK GALLAGHER pgallagher@westfairinc.com
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ighty-five developers, utilities and other entities responded to Gov. Andrew Cuomo’s call for ideas to revitalize the state’s aging energy infrastructure, with the respondents collectively supplying plans that would power no fewer than 20 million homes. Energy experts contend the biggest problem facing the state’s electric grid is not a lack of supply but inefficiencies in transporting the existing supply from upstate New York, which is a net producer of electricity, to the downstate region, a net consumer. However, that did not stop private developers, power providers, private equity firms and others from submitting 130 ideas that would provide a total of more than 25,000 megawatts and call for billions of dollars in upgrades, new generation facilities and transmission lines. Those submissions included proposals for four new gen-
Partnering to grow • 2 Region readies for round two in funding contest
Marcene Hedayati, managing partner at Legends Realty Group in Irvington.
Energy, page 6
Economic council aims for stronger showing
BY JOHN GOLDEN jgolden@westfairinc.com
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he Mid-Hudson Regional Economic Development Council might be guided by judges’ mixed reviews from last year’s chase for state funding as it selects priority projects this summer for which it will seek a top share of $220 million in capital grants and employer tax credits from Albany. Ten regional councils across the state will vie for those funds to assist job-creating projects that advance the goals
of strategic plans prepared last year by the respective councils in the first year of Gov. Andrew Cuomo’s regional development initiative. This year’s pot of $150 million in capital and $70 million in Excelsior Jobs Program tax credits from the Empire State Development Corp. will be augmented by $530 million available from 21 grant and loan programs at a dozen state agencies, Cuomo announced last month. Applications for priority projects to be reviewed by the Mid-Hudson council were due by June 29. More businesses, nonprofits and municipalities scrambled to submit
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proposals for hundreds of additional projects in the sevencounty region by the July 16 deadline to file the state’s Consolidated Funding Application. Those applications also will be reviewed and ranked by the Mid-Hudson council before they are sent to Albany. The application process was streamlined last year for the first round of regionally focused development funding. The 21-member Mid-Hudson council last year failed to win one of the state’s top awards to regions judged to have the best strategic plans. Those awards, which went to
unique artwork in nyack• 15
Region, page 6
Good Things • 34