NORWICH – The Chenango County IDA announced that it has secured the additional funds needed to match a $4.7 million grant they hope to receive from the U.S. Economic Development Administration. The grant would fund the rehabilitation of the Utica Main Line Railroad that runs through the county and has been out of service since the 2006 flood and was further damaged by Tropical Storm Lee in 2011.
The CCIDA made this announcement after the Chenango County Board of Supervisors’ meeting Tuesday morning, where the board adopted a resolution agreeing to commit up to $200,000 toward the project.
The CCIDA held several meetings with local agencies over the last couple of months to secure the funds needed to meet the EDA’s local match requirements (approximately $1.2 million of a $5.8 million project). The CCIDA agreed this month to commit up to $75,000 of its own funds and Development Chenango Corporation agreed to commit up to $150,000 toward the project. With the New York State Department of Transportation’s award of $772,422 received last year to fund part of the rail project, and the new funding commitments from local agencies, the CCIDA has secured all funds needed to meet EDA requirements.