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State knocks Waterloo out of Downtown Revitalization Initiative contest: Another year without $10M prize

The village of Waterloo is not a finalist for New York State’s Downtown Revitalization Initiative. The $10 million prize is what communities like Waterloo have been after for years – as downtown investment remains slow and underwhelming.

Among the changes and improvements local leaders hoped to make with the $10 million prize were connecting downtown to the Cayuga-Seneca Canal, converting a portion of the former Moore’s Furniture building on Washington Street, and other efforts.

The Waterloo Economic Development Committee says it remains focused on executing the strategies it outlined in the proposal.

“The members that were dedicated to the DRI process left all that they had on the field when it comes to the DRI competition,” WEDC Chairman Joe Sposato said. “Our team had the best interests of Waterloo in their minds and the utmost heart up until the very last minute, and we are thankful for their efforts.”

“But we know all that Waterloo has to offer and the potential that it has,” Village Administrator Don Northrup added. “We were surprised to get that call. We have organized our priorities, people and plans in order to grasp the ongoing possibilities ahead of us and leverage other opportunities.”