Skip to main content

The Focus Area Loan program is competitive and available for commercial or mixed‐use property in three geographic areas.

Program AllocationTimingCARA FundingOverall Project CostsMinimum MatchFeesRateTerms

Three times per year (March, July, November).

Minimum $15,000

Minimum $75,00080% of project costs$50010‐Year T‐note rate + 1.25%

Years 1‐2 Monthly interest‐ only payments.


Applications due 2/28, 6/30, and 10/31 respectively.

Up to 20% of project costs per project    Years 3‐8 monthly payments, loan paid

Eligible applicants:

  • Property owners who can show fee title
  • Business owners who 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 and within a focus area
  • Qualifying structures include commercial and mixed‐use buildings
  • Tax‐exempt projects are exempt

Eligible projects:

  • Historic preservation including
  • Storefronts/façade improvement
  • Upper floor redevelopment
  • New construction residential/mixed use
  • 100% residential projects are excluded

Open this map in a new tab/window

See the General Information sheet for other important CARA program details.