New York launched the third round of the Downtown Revitalization Initiative. According to Governor Cuomo's Office, the initiative invests $100 million into downtown neighborhoods across the state. One community in each of the state’s ten Regional Economic Development Council zones will be selected to receive $10 million dollars. In 2016, the City of Oneonta was awarded $10 million under the DRI. Applications for the third round are due June 1st. Cuomo says this new round of funding will provide downtowns new opportunities to rebuild for 21st Century needs and foster growth that will be felt across the entire region.