Restore New York Initiative funds over 50 projects across State
In an announcement from Governor Kathy Hochul's office, more than $50 million will be awarded to over 50 projects throughout the state.
Sackets Harbor finishes $3.3 million flood resilience project
The Restore New York program 'supports municipal revitalization efforts with funds to help remove and reduce blight, reinvigorate communities and generate new residential and economic opportunities statewide.'
Empire State Development administers the program that's designed to help local governments encourage new commercial investments through community revitalization, growing local housing, and putting properties back on the tax rolls to increase the local tax base.
Revitalizing and rehabilitating vacant and blighted areas of our communities for housing or development is vital to make downtowns thrive. Restore New York helps our municipalities plan for the future by catalyzing economic growth and supporting housing, businesses and cultural spaces. We are further unlocking the potential of these sites and communities across New York.
New York Governor Kathy Hochul
The City of Ogdensburg was given a Special Project designation and awarded $3.5 million to rehabilitate several historic mill buildings on the St. Lawrence River waterfront into a mixed-use complex.
Here's a breakdown of the north country projects that will be getting funding:
City of Ogdensburg – $3.5 Million – Special Project: This project includes the adaptive reuse of 119 W. River Street, a long-abandoned former waterfront hotel property situated along the St. Lawrence River. This transformative downtown initiative focuses on restoring two historic stone mill buildings to create a vibrant mixed-use destination, including 10 residential apartments. The redevelopment will breathe new life into a blighted area, enhance the local economy, and provide unique retail, residential, recreational, and dining opportunities for residents and visitors alike.
Village of Canton – $749,997: This project will demolish 6,400 square feet of vacant buildings and reconstruct 4,500 square feet of commercial and event space at 15 Gouverneur Street. The objective is to create a welcoming, functional mixed-use space that restores the beauty and history of Canton's downtown waterfront and increases economic activity and opportunities.
Town of Lowville – $560,000: The project will redevelop approximately 6,500 square-feet of vacant space at 7623 North State Street, a historic brick block building in Downtown. Funding will assist with the costs for the installation of electrical and plumbing throughout the building, the construction of an ADA-compliant elevator, a stairwell, masonry repairs, and the construction of eight market-rate housing units and amenities.
Town of Martinsburg – $1 million: The General Martin Apartments project repurposes the former Glenfield Elementary School at 5960 Main Street into 63 affordable housing units. This adaptive reuse will include 55 one-bedroom, six two-bedroom, and two studio apartments. The building will undergo substantial renovations, incorporating community amenities like a fitness center, laundry facilities, a community room and an outdoor garden.
City of Ogdensburg – $914,355: Small City Brewing Company will transform a vacant building at 110 Lake Street into a craft brewery, advancing the development of Ogdensburg's Marina District – a Brownfield Opportunity Area. The project will include a manufacturing facility with a commercial grade five-barrel brewing system and the addition of a 400 square foot grain room. SCBC plans to wholesale to restaurants and bars and open a retail tasting room on-site with a commercial kitchen and event space.
Village of Waddington – $1 million: The former St. Paul's Episcopal Church at 129 Lincoln Avenue is a 5,120-square-foot stone Georgian structure built in 1818. The now-vacant structure faces severe decay, threatening its place within the historic district. The Village plans to stabilize and rehabilitate the site, comprising the church, the adjoining brick rectory, and a rear wooden garage, to create a multi-use, non-sectarian recreational hub. This transformation will preserve its architectural heritage while drawing new residents, fostering community engagement and providing entertainment options.
According to the state, the awards complement the governor's economic development vision by making strategic investments in communities across the state which revitalize the economy and create more opportunities for New Yorkers. This fiscal year's budget invests $100 million for the Downtown Revitalization Initiative and $100 million for NY Forward.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 hours ago
- Yahoo
What is the highest interest rate on a car loan?
Key takeaways There is no federal maximum interest rate for auto loans. Whether you receive a high interest rate is based on factors such as your credit score, the vehicle you purchase, the terms of your loan and the state where you are financing the vehicle. Some states set interest rate caps on loans for personal purchases, like cars, but others do not. There is no federal cap on interest rates, but military service members fall under special regulations through the Military Lending Act and the Servicemembers Civil Relief Act. Since auto loan rates are usually advertised with their starting rate, you might wonder what the highest interest rate on a car loan is. The answer isn't straightforward because rates depend on a number of factors, some specific to the consumer and some tied to the economy at large. Auto loan calculator Want to get started on those calculations? Bankrate's auto loan calculator is here to help you crunch those numbers. Calculate now Highest auto loan interest rates by credit score and vehicle type Two factors that greatly impact your interest rate on an auto loan are your credit score and the type of vehicle you are buying. Generally speaking, higher credit scores receive lower rates, as well as newer and lower-mileage vehicles. Learn more: How to build credit for a new car loan Credit Score Your credit score plays a significant role in the average interest rate lenders will offer you. Lenders generally rely on your FICO score or VantageScore to get a snapshot of your financial track record when underwriting your loan, including your payment history, credit utilization and credit mix. The best interest rates on auto loans are offered to applicants whose scores are in the mid-600s or above. Personal FICO score Average interest rate for new car loans Average interest rate for used car loans 781 to 850 5.18% 6.82% 661 to 780 6.70% 9.06% 601 to 660 9.83% 13.74% 501 to 600 13.22% 18.99% 300 to 500 15.81% 21.58% Asking the experts: What can consumers do to help themselves when faced with a high interest rate environment? I really, really want consumers to know what their current cars are worth before starting their shopping journey. It doesn't matter if your credit score is 800 – you're still going to be offered 7 percent, maybe 6 percent, if you have a great lender in your pocket. When you have that number looming over your deal, the only leverage you have is the value of your current car. Be educated on what those current price points are and hit some of those monthly payment calculators so that you're not surprised when you see what happens with a $40,000 or $45,000 vehicle price point and what that monthly payment will be. Historically, consumers have always tended to shop by monthly payment. You know, going in and saying, 'I don't want anything higher than $750 a month.' But I recommend you negotiate the cost of the vehicle and then work out what your terms will be. Vehicle type According to Experian, in the first quarter of 2025, the average rate for a new car for excellent credit borrowers was 6.70 percent while the average rate for a used car for excellent credit borrowers was 9.06 percent. Auto loans are secured by the vehicle that is being financed. If the borrower can't pay, the vehicle could be repossessed by the lender to recover its money. 'Older vehicles that might not be on the road in a few years, or will break down, pose a little bit higher risk,' Zabritski says. This is also true of cars with higher mileage. Asking the experts: What advice do you have for consumers who need a car now, but only qualify for high rates? Lender mix will affect your rate. Credit unions typically are going to have lower rates than banks…but right now, banks are getting more aggressive and are looking to grow auto loans again, so consider multiple lenders. I always recommend you get preapproved so you know the rates and you've got something to negotiate with. When the environment is so consumer hostile, I think it's best to have as many tools in your pocket as possible. For many, the only leverage that you have is the value of your current car, so get it appraised. When you know that number intimately and you go to the dealer and try to negotiate, you'll know a good deal or whether you need to try trading in elsewhere. Best bad credit auto loan rates Need to buy a car but credit score not ideal? Check out Bankrate's list of auto loan lenders. Check lenders now Highest auto loan interest rates by state States set their own maximum interest rates that lenders can charge consumers, and they enforce those rates with usury laws. Usury laws influence the maximum rate you can be charged when you buy a vehicle, and that limit can vary widely from state to state. For example, California sets a maximum of 10 percent per year for loans for personal goods, while Nevada has no maximum rate and no usury laws. Switch Auto Insurance and Save Today! The Insurance Savings You Expect Affordable Auto Insurance, Customized for You Great Rates and Award-Winning Service Importantly, you are subject to the usury laws of a state where you borrow money, not necessarily the state where you live. For example, if you live in California but use an auto lender in Nevada, you will not be protected by California's usury laws. The amount and term length of your loan influence the maximum interest rate you can receive as well. Most states set higher interest rate caps for smaller, short-term loans than for larger, long-term loans. State Average used car APR Average new car APR New York 9.93% 6.75% New Hampshire 9.07% 6.30% Massachussetts 9.37% 6.58% Ohio 11.6% 7.56% Tennessee 10.93% 7.21% Georgia 12.56% 8.36% Arkansas 11.6% 7.73% Kansas 10.46% 6.74% Nebraska 9.31% 6.20% Colorado 10.01% 6.76% Washington 8.84% 6.29% Oregon 9.37% 6.48% Idaho 9.01% 6.55% Utah 8.50% 6.58% New Mexico 12.23% 8.73% Learn more about usury laws in your state Use the Conference of Bank State Supervisors's interactive map of usury laws across the country. If you believe a lender is offering you a rate that breaks the law, consult a lawyer or your state's attorney general. You may be able to recover interest you have paid on your loan if you have been charged more than the legal limit. 5 factors that influence your interest rate Beyond credit and usury laws, it's crucial to note that other factors can impact the interest rate a lender might offer you. Loan amount Large loan amounts come with higher rates, while lower loan amounts have lower rates. You can control your loan amount by making a larger down payment and financing less. You can also purchase a less expensive vehicle. Yoon suggests being 'really familiar with your budget' and taking a 'hard look at the cars you're shopping' to assess what kind of car would help assist you with your everyday needs. Loan term While longer-term auto loans can help lower your monthly payment, they often have higher rates than shorter-term auto loans. Beyond that, a long loan term will mean paying more in interest overall, even if you are able to score a competitive rate. Down payment Making a larger down payment on your auto loan could lower your interest rate. This is because you will need to finance less, and lower loan amounts — similar to shorter loan terms — often come with lower interest rates. Loan-to-value (LTV) ratio The LTV of your auto loan compares the amount you are borrowing to the cost of the car you are buying. If you make a down payment, you will borrow less than the car costs and your LTV will be lower. If you borrow more than the car is worth – maybe to consolidate debt or pay off your old car loan – then you will have a high LTV. Benchmark rate The Federal Reserve sets the benchmark rate, which is the cost for banks to loan money to each other. Indirectly, that affects the cost for lenders to make auto loans to consumers. When the benchmark rate is lowered, auto loan rates also drop. Yoon says he does not expect the Fed to lower the benchmark rate any time soon. '[Jerome Powell] has been very specific about keeping rates where they are to really mitigate inflation. And it's tough to see on the consumer end how that's working, but at the economic level, it has been effective. Special protections for military service members The Military Lending Act and Servicemembers Civil Relief Act limit the interest rates lenders can charge active duty service members and their families. Military Lending Act: This act applies to active duty service members, their spouses and certain dependents. It places an interest rate cap of 36 percent on unsecured auto loans. Most auto loans are secured by the car being purchased, however. Servicemembers Civil Relief Act: Originally passed in 1940, this allows interest rates on loans taken out prior to becoming a service member to be cut down to 6 percent for the duration of active duty. Related: Military Car Loans: What To Know Before You Sign Frequently asked questions How can I get a lower interest rate on a car loan? You can improve your chances of qualifying for a lower rate in a number of ways, including: Paying off existing debt before applying for an auto loan Improving your credit score Making a down payment Choosing an affordable car Selecting a shorter term Using prequalification and preapproval to compare lenders How often do auto loan interest rates change? Auto loan interest rates change daily and vary widely from one lender to another. They are influenced by various economic factors, including the Federal Reserve's Federal Funds Rate and the prime rate. What is a good APR for a 72-month car loan? In Q1 2025, the average APR for a 72-month car loan was 38.59 percent for new vehicles and 41.34 percent for used vehicles. Your credit score and the vehicle you purchase will determine whether lenders offer you an APR that is higher or lower than that average. What is the worst interest rate you can get on a car loan? There is no set maximum interest rate you can receive on a car loan. Whether a rate is bad or not depends on your credit score, the amount you are borrowing and your loan's term. You should shop around and compare rates to ensure you receive a good rate based on your car buying situation. Does the type of vehicle you buy impact your interest rate? The age and condition of a vehicle will impact your interest rate, but not whether you buy a truck, sedan or crossover. 'The type of vehicle will impact the loan amount, which then will spill over into your payment-to-income ratio and loan amount,' says Zabritski. 'So, if you have a lower income, you might not be able to qualify for that new F-150 and might have to go towards a lower price point vehicle.' Sign in to access your portfolio
Business Upturn
a day ago
- Business Upturn
BexBack Launches 100x Leverage, 100% Deposit Bonus & No KYC to Empower Crypto Traders in Bitcoin's Volatile Market
SINGAPORE, Aug. 02, 2025 (GLOBE NEWSWIRE) — As Bitcoin continues to surge to new highs and the market enters a phase of high volatility, holding traditional spot positions may not be enough to generate short-term profits. With Bitcoin's price moving rapidly, traders are seeking more effective ways to capitalize on these fluctuations. In response to this market need, BexBack offers a powerful solution: 100x leverage on crypto futures trading, allowing traders to amplify their positions and maximize their profits from even the smallest market moves. 100x Leverage – Amplify Your Profits With up to 100 times leverage, BexBack allows traders to open larger positions with smaller investments, turning minor price movements into substantial profits. This leverage mechanism enables seasoned investors to make the most of Bitcoin's volatility, maximizing returns and minimizing the need for large amounts of capital. A small price change can lead to huge potential profits, making high-leverage trading a popular choice for experienced investors looking to seize opportunities in today's turbulent market. 100% Deposit Bonus – Double Your Trading Power To make trading even more rewarding, BexBack is offering a 100% deposit bonus . New users can double their deposits, giving them more capital to work with and increasing their potential trading power. Whether you're using leverage or trading with your original funds, the deposit bonus enhances your ability to generate greater returns. No KYC – Quick and Easy Access BexBack is committed to offering seamless and anonymous trading. With no KYC (Know Your Customer) required, users can start trading immediately without the hassle of lengthy identity verification processes. This allows traders to focus on what matters most—capturing opportunities in the fast-moving crypto market. Why BexBack? No KYC : Enjoy anonymous and fast trading without identity verification requirements. : Enjoy anonymous and fast trading without identity verification requirements. 100x Leverage : Maximize your potential returns with up to 100 times leverage on crypto futures. : Maximize your potential returns with up to 100 times leverage on crypto futures. 100% Deposit Bonus : Double your deposit and boost your trading capital with BexBack's exclusive offer. : Double your deposit and boost your trading capital with BexBack's exclusive offer. Easy-to-Use Platform : Trade seamlessly via web or mobile, with a user-friendly interface that simplifies the trading process. : Trade seamlessly via web or mobile, with a user-friendly interface that simplifies the trading process. Large Selection of Assets: BexBack supports over 50 cryptocurrencies for trading, giving you access to a wide range of market opportunities. About BexBack? BexBack is a top-tier cryptocurrency derivatives platform offering up to 100x leverage on BTC, ETH, ADA, SOL, XRP, and over 50 other futures contracts. Headquartered in Singapore, with additional offices in Hong Kong, Japan, the United States, the UK, and Argentina, BexBack is licensed as a US MSB (Money Services Business). Trusted by more than 500,000 traders globally, the platform welcomes users from the US, Canada, and Europe. BexBack offers zero deposit fees and provides comprehensive customer service available 24/7 to ensure an exceptional trading experience. Take Action Now The market is ripe for the taking, and with Bitcoin's high volatility, there's no better time to start using leverage to make the most of every market movement. With 100x leverage, no KYC, and a 100% deposit bonus , BexBack provides traders with the ideal environment to profit from Bitcoin's fluctuations and the broader crypto market. Sign up on BexBack now , claim your exclusive bonus and start accumulating more BTC today! Website: Contact: [email protected] Contact:Amanda [email protected] Disclaimer: This content is provided by BexBack . The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. Photos accompanying this announcement are available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Hamilton Spectator
a day ago
- Hamilton Spectator
Donald Trump's next target could be deal that shields most Canadian imports from tariffs, experts warn
Canada's biggest shield against U.S. tariffs is still intact after Donald Trump's latest trade deadline, but that could change by next year, experts warn, as Prime Minister Mark Carney prepares for a new round of talks with the mercurial American president. While Trump raised the tariff on Canadian goods to 35 per cent in an executive order Thursday night, an exemption for goods which comply with the Canada-U.S.-Mexico Agreement (CUSMA) was maintained. The order was signed after Ottawa and Washington failed to reach an economic and security deal. That means, most economists agree, that roughly 90 per cent of Canadian exports will still enter the U.S. tariff-free. But, warned BMO chief economist Douglas Porter, that agreement is up for renegotiation in 2026. 'Even though we're in a relatively good spot right now, I don't think that should give us much confidence in the longer term,' Porter said Friday. With CUSMA-compliant goods facing no tariffs, and sector-specific tariffs of 50 per cent on steel and aluminum, Canadian goods currently face an average tariff in the low single digits. But that could easily change when the agreement is renegotiated, Porter added. The fact that Canadian negotiators weren't able to get any agreement lowering the 35 per cent tariff — or cutting sector-specific tariffs — ahead of Trump's Aug. 1 deadline isn't exactly reassuring either, Porter said. 'It really does raise some questions over how smoothly the renegotiation of (CUSMA) is going to go,' said Porter. 'We're going to come into it with the U.S. holding this 35 per cent over our head.' Shortly after midnight on Thursday, just after the hike came into effect, Carney said he was 'disappointed' by Trump's decision, after Canadian officials spent several days this week hunkered down in Washington meeting with U.S. Commerce Secretary Howard Lutnick and representatives of Senate Republicans. 'We remain committed to CUSMA, which is the world's second-largest free trade agreement by trading volume,' Carney's statement read. 'Other sectors of our economy — including lumber, steel, aluminum, and automobiles — are, however, heavily impacted by U.S. duties and tariffs. For such sectors, the Canadian government will act to protect Canadian jobs, invest in our industrial competitiveness, buy Canadian and diversify our export markets.' Dominic LeBlanc, Carney's point-person on Canada-U.S. trade, told Radio-Canada's 'Midi info' that Canadian officials have always maintained that they 'wouldn't accept just any agreement.' 'We'd accept an agreement that was in the interests of workers, of the Canadian economy, and at the end of the day yesterday that agreement wasn't in sight,' LeBlanc said Friday, as he was set to leave Washington after meeting with Lutnick on Thursday. The head of the association representing small businesses said Canada avoided the worst-case scenario this week by keeping CUSMA-compliant goods tariff-free, but said the country is not out of the woods yet. In next year's renegotiation, the U.S. could give preferential status to goods which comply with CUSMA — but that doesn't mean they'd still be duty free, warned Dan Kelly, CEO of the Canadian Federation of Independent Business. 'That's absolutely one of the prospects I fear,' said Kelly of the idea that U.S. negotiators would try to put tariffs on CUSMA-compliant goods. 'There's also nothing stopping him from pulling out of CUSMA altogether. That would be the nuclear scenario.' A senior official with the Canadian Chamber of Commerce also said Canadian businesses need to be wary of the CUSMA revamp, and any lingering uncertainty until it's completed. 'The review could start Monday,' said Matthew Holmes, the chamber's head of public policy. 'But we're going to be talking about CUSMA until 2026, and that's the third act of this play.' At the moment, Holmes estimated, Canadian exports to the U.S. face an average tariff of anywhere from 2.9 to five per cent, which still gives this country the best treatment of any American trading partner. Still, Holmes isn't under any illusion that that low rate will continue — even if Canada's access remains better than most. 'I think it's reasonable to expect they come to the table with a baseline tariff,' Holmes said of U.S. negotiators. 'If they establish a floor of 15 per cent on the world and we come in at 10, we're in relatively good shape, but it's still not great for our businesses.' For sectors like steel and aluminum which still face targeted tariffs, the continuation of the CUSMA exemption didn't provide much comfort at all, said Catherine Cobden, CEO of the Canadian Steel Producers Association. 'What we see is some of our largest trading allies, both with us and the United States, accepting and normalizing 50 per cent tariffs,' said Cobden. 'That cannot happen in the case of Canada.' 'We don't have months to wait for a USMCA process. We are in the thick of it now,' she said. Dan Ujczo, an Ohio-based international trade lawyer, said in spite of sectoral pressures, Canada needs to get a clearer sense of the deals the White House has struck with the European Union, Japan and South Korea. 'Canada and Mexico started these negotiations with the best access to the United States in the world. They don't want to put themselves in a position now to accept a deal where that's going to get them less access to the United States than any other trading partner, so I think we still need to see what those other parties have agreed to,' said Ujczo, who has also worked for both Canadian and U.S. governments. Ujczo also said it's time for Carney and other Canadian political leaders to dial down the partisan rhetoric. On Friday, the Conservatives and the NDP accused Carney of failing to improve circumstances for Canadian workers. 'This is a negotiation,' Ujzco said. 'The political campaigns are over now.'
