Cortland received a piece of nearly $40-million state tax dollars redistributed to 75 municipalities.
The allocations are through Round 4 of the Restore New York Communities Initiative.
$500,000 will help rehabilitate the Cortland Downtown Partnership’s Cortland Business Innovation Center at 40 Main Street.
Look for first floor retail, second-floor offices and an entrepreneur-in-residence component on the third floor.
In a statement, the Downtown Partnership said that “Programming will provide a local physical and regional digital hub for residents to commercialize ideas and concepts. This project would not be moving forward without Assemblyman Barbara Lifton’s original grant support of the property acquisition and first phase of development in 2011.”
Expect to see a contemporary business incubator for Cortland.
Total estimated cost of the remaining work is $692,000.