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STREDC Meets For First Time Since Striking $500M Jackpot

By Kerry Longobucco.
The Southern Tier Regional Economic Development Counsel held its first meeting since the Southern Tier hit a $500 million jackpot in December.

The purpose of Tuesday's meeting, held at Binghamton University, was to announce that the STREDC will fully fund all the priority projects selected through the Consolidated Funding Application (CFA) process last year.

The region will be granted $100 million a year, for the next five years. Harvey Stenger, STREDC co-chair, says there are a handful of projects he's particularly excited about seeing come to fruition with this first round of funding.

Among those -- Demet's Candy, Anchor Glass, and Cameron Manufacturing, all located in the western part of the region. but some projects right here in the Binghamton area will also see a financial surge, thanks to this first $100 million.

"The Greenway Bike Path, from here to downtown, that will enhance tourism and improve commuting for students, as well as faculty and staff, and add some extra value into the region," Stenger said. "And a long list of other projects that are in there -- the Collier Street project, 7 Hawley Street."

The Collier Street Commons will include 100 parking spots, retail space and market rate housing. The vision for 7 Hawley St. includes a new parking structure, with up to 360 spaces.

Stenger says the first phase of funding is very specific to the council's list of pre-approved projects -- but over the next four years, there could be as much as $300 million available for new projects that come up.