Albany - Albany Tomorrow is banking on downtown businesses. ATI has worked out a deal for businesses that plan to open downtown, or for those that want to make improvements to existing businesses.
Through a partnership with local banks, the interest rate on loans will be half a percentage point lower than they are approved for. "Whatever loan rate you qualify for at your financial institution, ATI has negotiated a rate that will be one half percent below the ongoing rate for credit," said Greg McCormack, Interim CEO.
Businesses must meet the master plan criteria to be approved. The ATI board could not vote on the proposal today, because not enough members were present.