ALBANY, NY – In a measure to help Albany’s small businesses double down on their success, Mayor Kathy M. Sheehan today announced a new City matching grant program that helps small businesses throughout the City reinvest in their properties.
“This new program adds a powerful tool to the toolbox of small businesses who want to build on their success,” said Mayor Sheehan, who noted that the idea for the program arose out suggestions made by members of Albany’s Business Improvement Districts (BIDs). “This is an exciting time in Albany with hundreds of millions of dollars being invested in projects across the City. We want small business owners to have the opportunity to participate in the resurgence we are seeing in neighborhoods across the City.”
“This is a win-win investment that will bring long-term benefits to the City's economic health,” said Anthony Capece, Executive Director of the Central Avenue BID.“When local businesses make investments, they stay in place and hire new employees. As businesses grow, the City’s commercial and sales and tax base expands, which reduces the tax burden on residential property owners. So we applaud Mayor Sheehan and encourage Central Avenue businesses to take advantage of this important opportunity.”
The Facade Improvement Program, made possible by neighborhood revitalization funds coming through the Albany Community Development Agency (ACDA), will provide up to $10,000 ($15,000 for a corner properties) in matching grants to small businesses who want to renovate the exteriors of their businesses, valued anchors in Albany’s neighborhoods.
Grants will be provided on a case-by-case, first-come, first-serve basis. Applications are now online at the City’s albanyny.gov website and they will also be available through local BIDs. For more information, contact ACDA’s Jim Matteo (518-434-5240/jmatteo@
Any Central Avenue businesses that are interested in the program can make an appointment with the CBID to help fill out the application. The staff is available to walk through the application, and help put materials together for submission. If you are interested in sitting down with staff, please contact the CBID offices to make an appointment: (518) 462-4300.
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| Business owners fixing up a facade of recently purchased restaurant on Central. |
Business owners can spend grants on decorative or functional improvements, including: exterior signs, lighting, energy conservation, windows, awnings, storefronts and entrances, doors, brickwork, painting, repair/replacement to decorative details, cornices, correction of code violations, removal of non-historic materials, and upgrades of blighted buildings. The funds can also be spent on improvements to make sure buildings are in compliance with the Americans with Disabilities Act.
Improvements to interiors or sidewalks are not covered by the grants.
“This program hits at a critical juncture—as 110 new residences and 600 new jobs come online Downtown and 80,000 conventioneers are projected to visit annually,” said Georgette Steffens, Executive Director of the Downtown Albany BID. “Studies show that facade improvements result in an increase in first-time customers, rental revenues, and community pride. Thank you to Mayor Sheehan for recognizing the value of investing in small businesses.”
“This program is an example of the commitment the City has to bringing businesses back to Lark Street,” said Patrick D. Noonan, Chairman of the Lark Street BID. “The BID's goal is to activate the street as much as possible and this program goes a long way toward achieving that goal.”
