The Central Albany Revitalization Area or CARA will end in June 2027, but not before handing out up to $545,000 in a final program of grants.
In November, city council members sitting as CARA’s governing agency decided to split the urban renewal district’s last available funds. Half went to help pay Pacific Power’s cost of putting Water Avenue power lines under ground. The other half would be spent on a new grant program similar to what CARA offered before.
Last week, on Wednesday, the council members unanimously approved the outlines of the new program. Like previous CARA grants and loans, the new effort is intended to help owners finance improvements on their buildings…