JAMESTOWN – There could be future development underway in the former Key Bank building in downtown Jamestown.
Earlier this year Key Bank closed down its downtown office at the northeast corner of Second and Main Streets and the property was put up for auction. The property was purchased at auction by Arnold Duke, who wants to renovate the space and use it to house a business, offices, and residential space. City Planner Bill Rice says the project could result in 25 to 30 new jobs being added to the downtown – although specific details regarding what business could move into the space were not disclosed.
On Monday Night the Jamestown City Council learned that there is state funding available to help with the renovation effort through the Restore New York grant program.
As a sponsor agency, the city could apply for up to $500,000 to assist with the redevelopment of the building, but the deadline to apply early October.
As a result the city council will have to vote on applying for the grant during its September meeting at 7:30 p.m. on Sept. 26. A public hearing on the grant request is also required, and will take Sept. 26 at 6:30 p.m. in the city council chambers.