IDA receives provisional approval of $4.718M to revitalize Utica Main Rail Line

NORWICH – The County of Chenango Industrial Development Agency has been notified by the U.S. Department of Commerce’s Economic Development Administration (EDA) of its intent to provide $4.718 million to the CCIDA’s Utica Main Rail Line Revitalization project, subject to CCIDA providing additional information and verifying local funding commitments.

The CCIDA has indicated that there is still much work to complete in order to fulfill the EDA’s funding requirements. For instance, the provisional approval requires that a funding share of approximately $407,000 be raised to assist with the completion of the $5.897 million reconstruction project. CCIDA officials have discussed this requirement with several potential funders and key stakeholders; to date, no solid commitments have been made to the project.

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