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
