Grant Information Session
Potential grant applicants are strongly encouraged to attend a short information session:
Tuesday, February 17
5:30-6:30 p.m.
Albany City Council Chambers
333 Broadalbin St SW, Albany
About
About the 2026 Grant Program
The 2026 Grant Program is intended to provide financial assistance for the rehab and redevelopment of commercial and mixed-use properties within the CARA boundary. Projects must align with the goals, objectives, and activities listed in the CARA Plan.
Overview
Total Program Allocation:
$545,000
Timeline:
- Applications available online
- Open February 6, 2026
- Due March 31, 2026
- Awarded April 2026
- Must be spent by May 1, 2027
Minimum Match Required:
25% of project costs
Fees:
None
Eligibility
Eligible Applicants
- Property owners who can show fee title
- Business owners who can show written evidence that property owner has authorized work for which application is made
Eligible Property
- Properties must be located within the Central Albany Revitalization Area (see map below)
- Qualifying structures include commercial and mixed-use buildings
Eligible Activities
Projects that provide permanent, physical improvement to a qualified property are eligible for grant funding; however deferred or routine maintenance projects are not eligible.
Eligible projects may include:
- Facade restoration
- Seismic retrofitting
- Awnings and windows
- Historic building rehabilitation
CARA Goals, Objectives, and Boundary Map
- Attract new private investment to the area
- Retain and enhance the value of existing private and public investment in the area
Application
Application Form Due March 31, 2026
Other Important Details (The Fine Print)
- Attendance at the April ARA meeting is required in case the Agency has questions.
- CARA can fund work begun only after ARA funding approval (any work completed prior to this approval is ineligible for reimbursement).
- Projects may require approval by the City of Albany Landmarks Advisory Commission or other entities. Land-use and/or Landmarks Advisory Commission approval, if applicable, must be complete prior to the first draw.
- Additional phases of ongoing projects are eligible, provided work on the phase has not yet started.
- This is a reimbursement-based grant. Grant recipients must pay for the work up front and submit paid invoices, receipts and proof of payment to receive reimbursement.
- Grant recipients must contribute at least 25% of the total project cost. This match must be paid by the recipient (If a project costs $100,000, the recipient must pay at least $25,000 (25%), and the grant may reimburse up to $75,000).
- Calculations for total project costs may include permanent building improvements and other costs, such as permits and fees.
- 10% of the reimbursement amount will be held back until the final payment, subject to successful required inspections or approvals.
- Applicants should consult with a tax professional to fully understand the tax consequences of agency grants.
If you have additional questions about this program not covered here, please contact:
Sophie Adams
Economic Development Manager
541-917-7654
