NORWICH – The Development Chenango Corporation has taken another significant step forward with a major downtown renovation project that will rejuvenate one of the most blighted properties in the heart of the city.
Earlier this month, the DCC - the economic development arm of Commerce Chenango - announced closing on the sale of the former Salvation Army building, located 17-19 South Broad Street in downtown Norwich. A $200,000 low-interest loan from the Southern Tier Region’s Community Revitalization Program was awarded to the DCC in December, leveraging an additional $250,000 in direct investments from the DCC to restore the property.
Once the DCC closes on the Community Revitalization Program loan in the coming weeks, plans are to use the funding to mitigate extensive amounts asbestos inside the building and perform a complete overhaul of the structure before selling it to a private developer and returning it to the local tax roles, explained Economic Development Director Jennifer Tavares.
“This is an important part of meeting downtown revitalization goals,” Tavares said, citing the DCC’s strategic plan to meet downtown revitalization needs. “We’re really hoping that by giving that building a facelift and breathing new life in the property, that it will improve the downtown landscape,” she added. “Hopefully, it will be only one of many projects in years to come.”