The College
on Tuesday announced its commitment of $10 million to the Union-Schenectady (US)
Initiative, unveiled architectural plans for the neighborhood, and introduced
organizations that have joined the effort.
“Rather than simply an architectural plan for what this neighborhood will look
like in the future, the US Initiative is a statement about the importance of contributing
to our communities,” said President Roger Hull. “We are committing $10 million
to this project that, when complete, will benefit all of us.”
The $10 million is to be financed through the Schenectady Industrial Development
Agency, Hull said.
Architectural plans call for extensive renovations of Union's 35 acquired
properties; development of a uniform and attractive streetscape along Seward Place; and
expansion of parking.
New partners
Union and Schenectady County Community College have established an admissions
agreement, which includes a tuition scholarship benefit, for eligible residents of the US
Initiative area. The program, which builds on Union's commitment of $1 million a year
in scholarship funds to children of qualified homeowners, will enable students to begin
their studies tuition-free at SCCC.
Trustco Bank has joined Union in providing special mortgage programs for homebuyers in
the US Initiative area. The Trustco program provides a 50 percent discount on bank fees on
all residential mortgage applications, grants of five percent of the purchase price
($2,500 maximum) for properties purchased that involve transfer from landlord status to
owner-occupied, and annual amounts of up to $100,000 in grants and fee discounts for five
years ($500,000 total) in support of the Initiative. Trustco also will donate a bank-owned
property on Park Place for use by the College.
Community Center
The College Park Community Center will enable Union, Van Corlaer Elementary School and
the GE Elfuns to develop a specialized mentoring program including a “homework
center” for Van Corlaer students. The College has received a grant of $8,250 from
Campus Compact, an organization funding higher education community service initiatives, in
support of the program. Other local organizations joining Union to sponsor programs at the
Center include St. Clare's Hospital, which will conduct health and wellness programs,
and Girls Inc. of Schenectady, which will present education and recreation programs for
girls.