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Downtown Rental Incentives

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To encourage more retail businesses in downtown Albany, the city is kicking off a rental incentive program.  It's offered through the department of community and economic development and is available to retail businesses that have opened or will open this year.   

If a business is approved, they'll receive rent assistance for 18-months.  They'll get 50% of their rent the first six months, 33% the next six, and 17% for the final six.

Downtown Manager Aaron Blair said, "This is a program that will help teach them. There's classes available for them.  There's things in there, it's just not we're going to give you rent, you have to be part of the program, which means you're going to get help throughout the 18 months to make sure you're successful."   

The city has a list of guidelines listed on its website along with the application. 

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