Pleasantville Redevelopment Efforts One of First Projects Authorized Under Improved Community Development Initiative
The EDA has recently approved Pleasantville to receive $47,500 in funding under its enhanced community development initiative, aimed at assisting municipalities as they prepare for urban redevelopment.
As the first project funded under this initiative, EDA's support will allow Pleasantville to conduct a feasibility study for the relocation of municipal offices and facilities. The study will analyze the relocation of the services and the redevelopment of the vacant site to make the existing municipal sites consistent with the City's amended downtown redevelopment plan.
"The EDA has taken steps to enhance our assistance programs to ensure municipalities have the tools they need to plan growth," said Caren Franzini, EDA chief executive officer. "Funding for feasibility studies and predevelopment activity is an essential part of redevelopment efforts that will result in sustainable, vibrant communities."
This enhancement to the EDA's community development lending resources allow up to $50,000 in financing to municipalities undergoing feasibility or predevelopment efforts. Previously, such funds were available only to community development organizations.