The $322,500 grant request is being written up by the Downtown Ithaca Alliance, and the city’s Planning Committee gave its support to the grant application at their last meeting (the grant is being written by the DIA, and it costs the city nothing to apply).Īccording to documentation filed with the city, the $322,500 from the state would be used to leverage work on four downtown projects, for which there is only an outline at present – a commercial project in the Clinton House, a commercial project in the Boardman House, a “commercial and housing project” at 108 West State Street (the Ithaca Agency Building), and Visum’s plan for 327 West Seneca Street. This target and ultimate market-rate/workforce- attainable mix may shift depending on how much we’re awarded from those programs,” said Braga.Īlong with CIITAP and CHDF, the proposal is being bundled with three other projects as part of a New York Main Street program grant intended to revitalize downtown urban areas. Our target is households making 70-80% of the area median income (AMI), depending on the size of household. “We’re applying for CIITAP abatements and the county’s Community Housing Development Fund (CHDF) to try to make all twelve units affordable. This is highly unusual because the procedures and nuances of affordable housing development are very different from typical market-rate development, and as a result, developers either specialize in affordable housing, or they don’t do it at all. The firm hopes to leverage a set of grants and a CIITAP tax abatement to make all twelve units affordable housing. What appears to set this plan apart from previous Visum projects, however, is that these are not intended as high-end apartments. “We’re really excited to do a small urban infill project like this and to introduce new, high-quality housing to that part of the city,” said Patrick Braga, Vice President for New Market Development for Visum.
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