Tannersville is now the second Capital Region location to win $10 million in the state's Downtown Revitalization Initiative.

Gov. Kathy Hochul announced the funding on Sunday, saying that it will allow Tannersville to "grow and flourish as an example of the best of what Upstate New York has to offer."

Tannersville will now begin the process of revitalizing the Painted Village portion of its downtown area.

Officials aim to create new affordable housing, expand community services and increase arts and cultural amenities with the funds.

Plans for the DRI's fifth round will be complete in 2022.

"This $10 million in funding will allow Tannersville to continue its work towards becoming an affordable community that supports a four-season vacation and recreation industry," Lieut. Gov. Brian Benjamin said in a statement. "The residents of the 'Painted Village in the Sky' now join the residents of many other downtowns that have benefited from this important program." 

Tannersville now joins the city of Troy as a recipient of the latest round of funding from the initiative, which is intended to boost post-COVID-19 economies.