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AMSTERDAM, NY—Congressman Paul D. Tonko announced today that Troy Local Development Corp. is being awarded $1,000,000 to fund its infrastructure plans for redeveloping One Monument Square in the City of Troy. Tonko sent a letter strongly supporting consideration of funds for this Economic & Infrastructure Development grant, which is being granted through the Northern Border Regional Commission (NBRC).

“Investing in our Capital Region infrastructure creates good paying jobs, improves our regional economy and enhances our public spaces,” Congressman Tonko said. “Now more than ever, we need to step up and support these transformative projects that add so much to our communities. My heartfelt thanks to all whose vision and dedication continue to move the development of this historic One Monument Square project forward. I will keep working to advance federal legislation that invests in our nation’s infrastructure to create a better future for our Capital Region and beyond.”

Troy Mayor Patrick Madden said, “We are thrilled to receive assistance from the Northern Border Regional Commission for the redevelopment of Monument Square. Grant funding awarded through the NBRC’s Economic & Infrastructure Development grant program will be critical to prepare this waterfront property for future construction, including critical sewer infrastructure upgrades, in partnership with the Troy Local Development Corporation and developer Hoboken Brownstone Company. Thank you to TLDC Executive Director Steven Strichman, City Director of Economic Development Dylan Turek, and their staff whose efforts were critical to securing this important grant, and the NBRC, New York State Department of State, Congressman Tonko, and our state & federal partners for their continued support for the One Monument Square project.”

Steven Strichman, Executive Director of the Troy Local Development Corporation said, “Thank you Northern Border Regional Commission for recognizing the importance of Monument Square to the city of Troy. This infrastructure grant along with funding the city has already secured, allows for site prep work to commence in 2021 based on plans Hoboken Brownstone develops over the coming months. Thank you also to the Department of State and the Capital District Regional Planning Commission for their assistance.”

Sumeet Gupta, COO of Hoboken Brownstone said, “The Northern Border Regional Commission grant for the Monument Square project is yet-another large step forward in bringing this site to fruition and further emphasizes the City's commitment to making this a successful project. Public-private-partnerships work best when you have the full support of local, state & federal government agencies and the community, so news like this continues to drive our optimism in delivering on our shared vision for 1 Monument Square.”

Kristin Swinton, Chair of the Capital District Regional Planning Commission (CDPRC), said, “CDRPC was designated the NBRC’s Local Development District in 2018 and was pleased to help connect the City of Troy to this new grant opportunity available in our region.  This project will pay dividends, not only by setting the stage for substantial private investment, but also by enhancing one of our region’s great public spaces.  Helping communities access NBRC programs and grant funding greatly complements CDRPC’s portfolio of economic development and technical assistance services including our regional coordination of federal U.S. Economic Development Administration (EDA) programs and administration of our region’s Foreign-Trade Zone.  We congratulate the City of Troy and applaud Congressman Tonko for his role in helping to secure funding for this important project.”

Tonko is a longtime champion for robust investment in America’s infrastructure. Last month, he joined his colleagues in the U.S. House of Representatives to advance H.R. 2, the Moving Forward Act, a $1.5 trillion nationwide infrastructure package that invests in modern, sustainable upgrades and repairs while creating millions of good-paying jobs, combating the climate crisis and addressing vital needs and disparities for communities throughout the country.

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