What is CARA?
The Albany City Council established the Central Albany Revitalization Area (CARA) in the summer of 2001 following a series of public forums held in the fall and winter of 2000-2001. CARA contains 986 acres or 9.7 percent of the total acreage of Albany. It includes the traditional city core area, known as Central Albany, with surrounding neighborhoods and areas of mixed commercial and industrial uses to the south and east.
The CARA Plan is aimed at alleviating blighting conditions in the area. New development is expected to occur primarily as infill with commercial and light industrial uses on small lots, and limited residential uses through redevelopment of existing residential areas.
Carrying out the CARA plan will require tax increment revenue. Tax increment financing may affect the property tax revenues and bond tax rates of other taxing bodies, but the effort is expected to be good for Albany.
Increasing economic vitality, encouraging the use of vacant and underused land and rehabilitating structures will increase property values both in CARA and the City of Albany. Spending tax increment funds is expected to produce new property values, with total value growth in the renewal area over the duration of the plan expected to be $230 million. When the project is completed, the values will be returned to the tax rolls, and the various taxing bodies that share values in Albany will receive an increase in tax collections.
The City Council serves as the CARA Agency Board, and each member has a counterpart member on the CARA Advisory Board. Advisory Board members generally live or own property or businesses in the Central Albany area.
Copies of the complete CARA Report and Plan are available in the Community Development Department at Albany City Hall, 333 Broadalbin SW.
CARA Goal: To revitalize the Central Albany Revitalization Area by implementing the Town Center Plan developed through the Central Albany Land Use & Transportation Study (CALUTS) using a citizen-driven process.
CARA Key Objectives:
- Attract new private investment to the area.
- Retain and enhance the value of existing private investment and public investment in the area.
CARA Additional Objectives:
- Provide a safe and convenient transportation network that encourages pedestrian and bicycle access to and within the town center.
- Preserve the Historic Districts, historic resources and existing housing in the area.
- Create a readily identifiable core that is unique and vibrant with a mixture of entertainment, housing, specialty shops, offices, and other commercial uses.
- Increase residential density in the area.
- Encourage the development of new forms of housing and home ownership.
- Enhance and protect the community and environmental values of waterway corridors in the area.
- Provide an enriching environment and livable neighborhoods.
General Boundary: Willamette River on the north, Elm Street area on the west, Queen and Pacific/9th couplet area on the south, Geary Street on the east. We have a CARA Boundary Map available for you to download. (592K PDF)