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Brooklyn Benefits from Community Development Outreach Program

NEW YORK CITY-Fleet is attempting to solve the real estate crunch in Downtown Brooklyn through a three-year program, the Community Renaissance Initiative. With this money, the Chamber of Commerce has organized Fulton First.

By Steve Viuker | Updated on December 11, 2000

NEW YORK CITY-Though much media coverage has been given to sky-high rents in Manhattan, a new program launched by FleetBoston Financial attempts to address the same problem in New York’s outer boroughs. Named the Community Renaissance Initiative, it is a three-year effort to fund solutions to community development issues in the Northeast. Downtown Brooklyn, New Haven, CT, Buffalo and Lawrence, MA are the recipients.

Made possible through funds from Community Renaissance Initiative, Fulton First (Fleet Initiative for Retail Services and Trade) has been organized by the Brooklyn Chamber of Commerce to assist small businesses along a two-mile stretch of Fulton Street. “The $750,000 three-year grant will be used to attract new businesses to Fulton Street and help existing ones stabilize their financial situation and provide technical and marketing assistance,” explains Mike Haberman, director of communications for the Chamber.

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