CARA Programs

Boundary

General boundary considered for CARA Projects

Bounded on the north by the Willamette River, CARA focuses on more than just the downtown area!

Contact Kate Porsche for more details.

Program Components

Liaison to City
Assistance to owners, prospective owners, and tenants. CARA provides information and connections to city resources such as a free walk-through of buildings by City Building Divisions, CARA Assistance, and City Reviews.

Design Assistance
Maching grants up to $5,000 per property are available for professional service fees up to $10,000 for interior and exterior alterations and new construction. This includes preliminary and final design, structural review and design, exterior color and awning selections, and similar services. May be extended up to $10,000, under special circumstances.

Small Grant
Competitive matching grants up to $5,000 (for $10,000 in project work). May be used for exterior work such as paint, awnings, facade improvement, or other visible projects. There are two rounds of Small Grants awarded per year, April and August.

Rehabilitation
Provides competitive matching grants up to $60,000 and/or loans to $125,000 for interior and exterior redevelopment of commercial structures. This includes developing upper floors, reuse of vacant or blighted space, remedy of structural issues, and retail or economic development-type projects.

Development Partnership
Considered for larger projects, greater than $300,000. CARA may award up to 10% of the project cost in Developer Partnership grants.

Residential Forgivable Loan Program
A total of $75,000 was available for low-interest forgivable loans for blighted historic single-family homes within the CARA area as a pilot program. CARA is evaluating and considering the continuation of this program.

Requirements

Business tenants may apply for assistance if property owners concurrence and a secure match can be documented as a part of their application.
Redevelopment projects must be completed within twelve months of construction start date. Extensions may be considered and granted by approval of CARA's Review Committee.
Applicant must provide documentation that required matching funds of $1 private: $1 CARA have been secured and demonstrate adequate availability of all private funds.
Funding may not be used for working capital or to refinance existing debt.
All projects must obtain the design approval of the City of Albany's Landmarks Advisory Committee.
Funds are not eligible for use on work completed prior to a commitment of funding from CARA.
All funds are paid out on a reimbursement basis.

For more information, contact Kate Porsche at (541)497-6228 or by email kate.porsche@cityofalbany.net