POTSDAM -- Clarkson University has revealed details of its joint application with the village for $37 million in grants for downtown revitalization, the whitewater park, and the Clarkson Innovators Colony, which holds the promise of 100 new jobs.

The Consolidated Funding Application for the next round of state grants through the North Country Regional Economic Council is due Friday, and was submitted and made public Wednesday.

The Clarkson Innovators Colony is a plan for adaptive reuse of the university’s downtown buildings Damon Hall, Snell Hall and Congdon Hall that is aimed at bringing new investment, jobs, and tax revenue to the Village of Potsdam.

The buildings have been eyed for rehabilitation for some time and were part of a $26 million plan involving Omni Development Corp., but the company pulled out of the project last spring.

The new proposal to bring nearly $37 million in investment, more than 100 jobs, and tax revenue to the Village of Potsdam includes funding for Potsdam’s proposed whitewater park and streetscape improvements in the downtown core.

The innovators colony plan “envisions a mixed-use environment of commercial, institutional and residential uses which characterize a vibrant downtown,” the press release from Clarkson said.

That and the village improvements represent “development of a living, working, and learning community that retains and attracts residents, businesses, students, and visitors that want to be part of a place where nature and culture reinforce one another,” the release said.

Congdon Hall and Snell Hall will have additional mixed-use applications for retail, regional children’s museum, artist studios, small performance spaces, community collaboration rooms, and amenities for apartments such as fitness facilities, laundry and office services.

Renovation plans for Damon Hall are intended to create business incubator space “supporting light manufacturing and storage options for the startup businesses co-located in Clarkson's Peyton Hall Business Incubator and Old Main, both within 100 yards of the facility,” the release said.

The 6,000-square-foot renovation project has been launched with funding from the Northern Border Regional Commission, National Grid, and other public and private sources, all of which covers asbestos removal, installation of a fire alarm system, roof repairs, window and door repairs, interior architectural repairs, installation of a heating system and installation of lighting.

“In this next phase, Clarkson envisions a premium mixed-use space that will house additional incubator businesses, as well the option of a food storage component (a stumbling block for many local food producers). This project is an opportunity to turn an unused building -- vacant for more than 20 years -- into a usable, thriving space with the potential to impact even more businesses and supporting services on a greater scale,” the release said.

The university and its for-profit subsidiary, J.R. Weston, “are willing to step forward with a bold plan to bring nearly $37 million in new investment into downtown Potsdam, secure more than 100 direct jobs, and add to the Village of Potsdam’s tax rolls by moving forward with the Clarkson Innovators Colony as the next phase of the University’s own Downtown Campus Revitalization Initiative,” the announcement said.

The “Innovators Colony” will further attract entrepreneurs and innovators to the region, and retain more of the talent that graduates from our regional universities. With $4.9 million investment in a whitewater park and additional downtown amenities, the village will become a live, work, play destination for the knowledge workers of the 21st century,” the university’s announcement said.