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.