Schenectady, N.Y. — The Schenectady County Capital Resource Corporation (CRC) today approved a $73,000 contract with Bunkoff General Contractors of Latham, NY to renovate 519 State Street in downtown Schenectady. The CRC also approved a $35,000 grant toward the cost of demolishing the former Friendly’s at ShopRite Square in Niskayuna.

Marty Finn, Chair of the County Legislature’s Committee on Economic Development and a member of the CRC said, “This major building upgrade at 519 State Street will benefit County taxpayers and adds to the momentum of our downtown revitalization efforts. The demolition of the former Friendly’s continues the tremendous progress we have made in turning what had been a vacant eyesore in Niskayuna into a vibrant part of the community.”

The State Street project includes a major upgrade to the building façade including new windows, painting, repairs and repointing the brick façade, repairs to the upper cornice and new signage on the building which houses the County’s Public Defenders office.

Bunkoff General Contractors submitted the low bid for work at 519 State Street. Seven bids were received. The CRC and Schenectady County will split project costs with each paying half the cost of the $73,000 contract.

The Schenectady County Metroplex Development Authority recently announced a major upgrade to the adjoining building at 515 State Street to include renovated residential units and ground floor retail space. The two buildings are among the last buildings that need renovations on the Proctors Block downtown.

The Schenectady County CRC uses fees earned from providing bond financing for large construction jobs to help fund economic development projects at no cost to the taxpayers.

The CRC also approved a $35,000 grant toward demolition costs for the vacant, former Friendly’s in Niskayuna. The demolition is making way for additional tenants and new construction at Shop Rite Square.

Metroplex administers the CRC as part of Schenectady County’s unified economic development team.