Issuance Of Tax-Exempt Bonds Supports Retention Of More Than 60 Jobs

April 19, 2019

Press Release Available Here

The Albany Leadership Charter High School for Girls currently leases the property at 19 Hackett Boulevard for use as a charter school and has entered into a real property purchase and sale agreement for acquisition of the property. With its financing in place to support the institution’s property acquisition, the Albany Leadership Charter High School for Girls can ensure the institution will not need to relocate in the future, supporting the retention of 57 full-time, and six part-time staff.

Since 2010, the City of Albany Capital Resource Corporation (CRC) has served as a resource for Albany’s non-profits, and area institutions. In utilizing the local option, the City of Albany CRC, for the issuance of tax-exempt bonds — Capital Region institutions are investing back into the community.

On Thursday, the CRC board approved an application for assistance in the form of the issuance of tax-exempt bonds. The transaction brings $100,000 worth of investment to the City of Albany as the CRC board may utilize administrative fees collected as funding for future strategic initiatives. The CRC has utilized funds for multiple strategic community revitalization initiatives.