Herkimer BOA is a planning effort to attract investment and funding opportunities through the development of a comprehensive vision for the Village’s future. The goal of this effort is to develop a community vision, identify strategic sites for redevelopment through an in-depth analysis of the area, and develop an implementation strategy.
This project is funded through the NYS Department of State (DOS) Brownfield Opportunity Area (BOA) program.
What is the Brownfield Opportunity Area Program?
This program has been used across the state to assist communities in attracting investment since 2005. NYS DOS has distributed over $45 million for planning and pre-development activities. While historically the program was focused on brownfield sites, the program has evolved over time to more generally look at opportunities for investment and revitalization of underutilized sites. Through this program, underutilized sites are transformed from liabilities to community assets.
The intent of the BOA program is to undertake neighborhood-scale plans, rather than focusing on a single underutilized property. While not all properties in the BOA study area are brownfields, vacant, underutilized, or abandoned, by looking at the neighborhood-scale, the program acknowledges that the presence of these nearby sites may be impacting investment in the larger community.
DRI & BOA
The Village of Herkimer is embarking on two significant planning initiatives aimed at revitalizing its Main Street corridor. This transformative effort began with the Downtown Revitalization Initiative (DRI), launched in early 2024.
The DRI program is designed to revamp downtown neighborhoods into vibrant centers that enhance quality of life and are magnets for redevelopment, business, job creation, and economic and housing diversity. Communities are selected annually through a competitive application process, and Herkimer’s selection as an awardee in February of 2024 reflects its demonstrated commitment and momentum toward revitalizing downtown.
With a $10 million DRI grant, Herkimer is now developing a Strategic Investment Plan to help initiate key catalytic projects aligned with its vision for revitalization. Building on this momentum, the DRI efforts in Herkimer will be complemented by the launch of a Brownfield Opportunity Area (BOA) Plan this summer.
The BOA program, used since 2005 to assist communities in attracting investment statewide, originally focused on brownfield sites, but has evolved to encompass broader opportunities for revitalizing underutilized properties and areas. This initiative aims to transform these sites over time from liabilities into community assets through comprehensive planning at a community scale.
By coupling these two initiatives, the Village of Herkimer can take both short-term, and long-term approaches to revitalizing and redeveloping its downtown core. The DRI will fund more immediate transformation projects through a competitive proposal process, while the BOA Plan will work to further attract investment and funding opportunities to Herkimer. This holistic approach underscores the Village’s commitment to revitalizing its Main Street and fostering a vibrant downtown environment.
Tools & Incentives that Stimulate Reinvestment in Underutilized Sites:
Support
The NYS DOS is committed to providing ongoing support to pursue implementation of BOA Plans in designated BOAs.
Priority and Preference
Projects within a designated BOA receive priority and preference in some state grant programs, including the Downtown Revitalization Initiative (DRI), NY Forward, Local Waterfront Revitalization Program, and the Department of Environmental Conservation’s (DEC) Environmental Restoration Program.
Predictability
Designation of a BOA demonstrates community endorsement of the Plan’s goals. This removes the risk and uncertainty associated with investment in a transitional or marginal market.
Brownfield Cleanup Program Tax Credit
Developers participating in the Brownfield Cleanup Program to remediate and redevelop sites in a designated BOA are eligible for a tax credit “bump-up” of 5% if the development advances the BOA Plan.
