Main Street Revitalization
Working Together to Revitalize Communities
Eligible businesses can receive incentives to occupy vacant spaces and breathe new life into struggling business districts.
Main Street Revitalization Pilot Program
The Main Street Revitalization Program is designed to encourage economic vitality of a business district and to optimize the use of existing electric infrastructure. This program offers financial incentive awards for projects in a local business district that is expected to improve the economic stability and growth of a municipality.
Eligible projects may include:
- Interior renovations
- Façade improvements
- Streetscape improvements
- Other investments that would enhance the economic viability/vibrancy of the business district
Through our Main Street Revitalization Program, we provided funding to the Riverhead Business Improvement District to make artistic improvements to Grangebel Park. These improvements to the underutilized park were celebrated with the “Arts In the Park – Reflexions” events, attracting hundreds of people to the park and the adjacent business district.
Applications for incentive awards must be associated with specific, well-defined projects. Applications will be judged based on private-sector job creation and/or retention, capital investment, expected economic growth in the business district, and utilization of existing electric infrastructure. The amount of any PSEG Long Island incentive is based on a tiered approach. Tier One awards of up to $100,000 is intended to supplement funding from non PSEG Long Island sources on a minimum $1 to $1 match. Tier Two awards of up to $25,000 do not require any third party funding.
PSEG Long Island will award incentives based upon:
- Available funds
- Economic benefits expected from submitted projects
- Leveraging of other funding sources
- The level of need to advance the project
The incentive award will be provided on a reimbursement basis after an applicant submits proof of paid invoices. Applicant must also provide supporting documentation to comply with requirement of a minimum $1-to-$1 match from sources other than PSEG Long Island.
Program Application Guidelines
The following guidelines will be used to administer and manage the program:
- PSEG Long Island retains the sole right to select awardees and determine award amounts.
- PSEG Long Island may conduct pre-inspections and/or post-inspections of a site or sites associated with a project.
- PSEG Long Island makes no warranty, guarantee, or representation, express or implied, with regard to any economic benefits, energy savings, or cost savings that may result from use of this Program’s funds. Award recipient understands and agrees that PSEG Long Island is not liable for any financial losses related to the applicant’s participation in the Program, or if the expected benefits of the project are not achieved.
- In the event that the award recipient utilizes a contractor or other agent to accomplish the project goals, PSEG Long Island makes no warranty, guarantee, or representation, express or implied, with regard to materials or workmanship provided by these agents or contractors, nor the costs charged by the agent or contractor.
- Any award provided may only be used by the recipient for the stated and approved use. PSEG Long Island reserves the right to withhold the award if the substance of the project changes or the requirements of the program are not met.
- Award will not be granted if the properties are not in compliance with applicable zoning laws, permitting, and urban renewal plans.
- Applicant must provide evidence for other sources of funding greater than or equal to 100% of requested award amount.
- Applicant must secure required building permits and complete the project in accordance with all applicable codes, ordinances, and standard engineering practices. Contractors must be properly registered, licensed, and insured.
- Applicant agrees to provide economic information to PSEG Long Island or its approved agent in order to verify the economic benefit of the award for a period of two (2) years after issuance of the final award payment.
- Applicant agrees to participate in PSEG Long Island marketing and promotional activities related to any award provided.
- Award recipients will be responsible for accurately and appropriately accounting for any awards and resulting tax implications. Applicants should consult with an accountant prior to submitting their application.
The Applicant may one or more of the following:
- Property owner or developer
- Local Development Corporation, Business Improvement District, or Chamber of Commerce. Or similar agent of a municipality
- Not-for-profit 501(c)(3), 501(c)(4), or 501(c)(6), acting in partnership with a municipality, county or local development corporation on improvements in a business district
The property must be located in a business district, within the service territory of PSEG Long Island. Applications and awards will only be considered if Applicant is maintaining all existing electric accounts in good standing with no arrears.
Please note: These pilot programs began in July 2017. They will continue based on available funding. Programs may be suspended without notice at any time.