A plan is in the works to revitalize the area surrounding the Riverspace Arts Center in downtown Nyack in an effort to boost the local economy.

"Fiscally, Nyack is faltering," says Josh Goldberg, of the Riverspace Arts Center. "They have a huge deficit; taxpayers can't afford [it] anymore, so it's necessary to come up with a plan that will create growth."

The proposal to redevelop four acres surrounding the Riverspace Arts building on Main Street includes multi-level buildings for retail, residential and office use, wider sidewalks and a parking garage.

"It will create jobs and economic activity that will even be more [of a] revenue maker than a revenue taker for Nyack," says Julian Palmer, of Riverspace.

Not everyone, however, supports the idea of changing Nyack.

"Nyack seems pretty good the way it is," says Jane D'Amato. "I don't know if they need to build more stuff here."

Riverspace officials say the $100 million project will not impact taxpayers. They are hoping to attract federal, state and local funds, as well as private investors, to help finance the project.

For interview about Riverspace Arts in Nyack's downtown revitalization plan, go to your digital cable box and select iO Extra, Ch. 612.