Capitalize Albany Corporation - Downtown Retail Grant Program Application

The Downtown Albany Retail Grant Program is designed to create an incentive to attract new and enhance existing retail businesses within a strategically identified area of Downtown Albany within the State Street and Pearl and Broadway districts. Reimbursable, recoverable grants may be awarded for new retail location interior renovation and fit-up costs. Grants may also be awarded for exterior improvements to new and existing retail businesses. A map of eligible downtown properties can be found at www.CapitalizeAlbany.com/grants.

 

Capitalize Albany Corporation will make funds available to eligible property or business owners with qualified projects to assist with paying a portion of eligible costs associated with improving the property as identified in the Program Guidelines. Awards for new retail locations should be at least $10,000, and grants will reimburse up to 80% of total project costs. Awards for existing retail locations should be at least $10,000, and grants will reimburse up to 50% of total project costs. The amount of funds will be awarded based on the project meeting the basic eligibility requirements, as well as factors such as the size of the project, the demonstrated need, feasibility of the project, and the strategic value of the project. 

Program Guidelines, including applicant and project eligibility, scoring system, and eligible expenses can be found on Capitalize Albany's website at the link identified above. Before starting this application, applicants should read through the Program Guidelines in their entirety. Potential applicants are encouraged to contact Capitalize Albany Corporation to discuss their project, potential eligibility for the program, and the application process.