Location: City of Peekskill, New York

Project Summary:
The City of Peekskill identified a targeted need for the revitalization of the downtown through making assistance available to microenterprises, or small businesses with five (5) or fewer employees. The City received $200,000 in NYS CDBG funds to establish a Microenterprise Grant Program. The total project cost was $220,000 with $20,000 in owner equity. The program assisted seven (7) microenterprises, with five (5) whose owners were low or moderate income. The project also led to the creation of two (2) full time jobs held by low and moderate income people.

Activity:
• __ Infrastructure
• _X   Economic Development
• __ Public Services
• __ Housing
• __ Acquisition
• __ Other (please describe):

Project Resources:
• CDBG: $200,000
• Private funds: $20,000
• Total: $220,000

Results/Impact:
The program assisted seven (7) microenterprises, with five (5) whose owners were low or moderate income. The project also led to the creation of two (2) full time jobs held by low and moderate income people.

Brief quote on project impact from beneficiary/stakeholder:
“I saw the benefit that a local artist accrued through this program. It’s a great program that helps these businesses to develop” – Mike Haggerty, Program Administrator – City of Peekskill

“The Microenterprise Program provided the City of Peekskill with a very unique tool to create opportunities for new and expanding micro-businesses that provide job opportunities for persons of low-and-moderate income” – Kathy Lockwood, Loan Officer – City of Peekskill

“The program has made a visible impact on South Street” – Kathy Lockwood, Loan Officer – City of Peekskill

Partner engagement:
• City of Peekskill
• NYS Small Business Development Center – Rockland Community College (referrals and business counseling)

State decision-making:
The City presented a strong project application as it relates to need and impact to the community, as well as administrative and financial capacity

What is the status of the project?:
The project is complete

Additional need:
In spite of progress made, the City continues to experience disinvestment that can be addressed through additional rounds of microenterprise assistance to local businesses

Media:

Website and social media:
Facebook: https://www.facebook.com/PeekskillGov
Website: https://www.cityofpeekskill.com/

Contact:
Kathy Lockwood, Loan Officer
City of Peekskill
904-734-4214
klockwood@cityofpeekskill.com