GRANT PROGRAMS & BUSINESS RESOURCES
In 2016 the Corporation designed two new grant programs, providing resources to strengthen Albany’s multiple commercial districts and to attract and retain the specific retail businesses that are most complementary to Downtown’s current residential, office, and visitor market.
The Downtown Albany Retail Grant Program
Impact Downtown Albany shows that not only is there a significant demand for retail Downtown, but that Downtown will thrive when the retail mix fully represents Albany’s unique local character. In today’s business climate when starting a new endeavor, private investment often cannot bear the burden alone. In response, Capitalize Albany has designed its new Downtown Albany Retail Grant Program. The program, made possible with funding from the City of Albany Capital Resource Corporation, assists businesses new to Albany to establish a downtown retail location as well as existing City businesses that want to expand by adding a downtown location. Existing retail locations in core areas of downtown Albany may also be enhanced under this program. Grant funding can assist with new location renovation and fit-up costs or with exterior improvements to properties.
We are now accepting applications. Now is the time to bring your business to downtown Albany. To learn why, you can also read this information packet here.Frequently Asked Questions:
Is My Business Eligible?
To be eligible for this program, your application must be on behalf of a retail business, which is defined as a commercial enterprise that offers merchandise, food, or provides services to the public, the sale of which is subject to sales tax, and from which the revenue derived constitutes the majority of revenue for the business. Businesses that would be new to Albany are eligible & those located in the City of Albany that could successfully expand into a new downtown Albany location are eligible. Existing downtown retail locations are eligible for assistance with exterior improvements. Please reference the program guidelines or contact us for further eligibility questions.
Where Do I Need To Be Located?
Eligible projects must be located in downtown within the State Street and Pearl, and Broadway districts identified in the Impact Downtown strategy. Please see the program guidelines for a map of program boundaries.
AMPLIFY ALBANY GRANT PROGRAM
Capitalize Albany has designed the Amplify Albany Grant Program to provide resources for the implementation of exciting activities and events that leverage the City of Albany’s most unique and strongest assets. The program, made possible with funding from the City of Albany Capital Resource Corporation, will enhance the City of Albany’s commercial districts and businesses by providing grant funding to non-profits, businesses and other organizations that will create and execute short and medium term authentic, unique and buzz-worthy promotional projects, events and programming. The types of eligible projects are outlined in the program guidelines below.
These events and other initiatives will engage residents and attract additional visitors to the City of Albany’s various business districts. We are now accepting applications.Frequently Asked Questions:
Who is eligible?
Non-profits, existing businesses and other groups such as business improvement districts and neighborhood associations are eligible. Please reference the program guidelines or contact us for further eligibility questions.
What types of activities are eligible?
Short and medium term projects, events and activities that promote or generate media attention for a commercial district in Albany. Examples include:
- Outdoor markets
- Pop-up shops & creative unified storefronts
- Shopper’s reward programs
- Food competitions with commercial district restaurants
- Create a wireless network free to all those located in and visiting your commercial district
- Other events/festivals or projects which promotes a commercial district located in the City