Capitalize Albany Corporation

Programs: Capitalize albany corporation (the "corporation") administers and provides staffing, office equipment, phone and computer network support to the city of albany industrial development agency (caida) and the city of albany capital resource corporation (cacrc). During 2017,several organizations utilized the programs and incentives of caida. The approval of the projects will result in over $100 million of investment within the city of albany. These projects are anticipated to create or retain nearly 897 temporary and permanent jobs within the city and create more than 350 units of both affordable and market-rate housing. The revitalization of downtown albany is a strategic priority of the corporation. In response to the recognized need for a common vision, strategic direction, and tactical solutions to issues facing the downtown neighborhood, the corporation worked with a consultant team in 2013 to prepare a tactical revitalization plan for downtown albany. This tactical revitalization plan, the "impact downtown albany strategy," was launched in 2014 and continues to be a driving force behind much of the growth seen in the city of albany. Through december 31, 2017, impact downtown albany has led to more than $325 million of project investment recently completed and underway within the city of albany. Facilitating the creation of downtown residential units continues to be a priority and will act as a driving market force for economic development. Under impact downtown albany the corporation has assisted in the creation of more than 800 units to date. During 2017, the corporation also provided approximately $63,500 funded under the "amplify albany and "downtown retail" grant programs to various recipients for the funding of events and other initiatives and to assist with costs associated with renovating or preparing commercial space for an eligible retail use.