Community Loan Fund Incubator Expansion - Clinton Avenue

The Community Loan Fund of the Capital Region Inc., a certified community development financial institution that provides training, funding, and technical assistance to women, minorities, and persons of low-income, proposes expanding our facility at 255 Orange Street into the adjacent empty lot at 236 Clinton Avenue. We are partnering with Home Leasing on the design and construction of the building, which will include both commercial and residential components. The project will include the construction of a high-quality, affordable childcare center to serve the community. The expanded facility will double the capacity of our successful incubator, making our sought-after training and technical assistance even more accessible. Increased access and resources are also expected to fill our lending pipeline, leading to the launch of more businesses. Extending the facility to Clinton Avenue will give us the opportunity to add highly visible, street-level commercial space to our incubator, so we can diversify the businesses we serve. The new commercial space will also increase economic activity in Sheridan Hollow and build on the ongoing revitalization of adjacent Clinton Square
Program Name:
Empire State Development Grant Funds
Agency ID:
ESD
Applicant Name:
Community Loan Fund of the Capital Region
Region:
Capital District
County:

Albany

CFA Number:
94107
Round Number:
9
Award:
$800,000
Grant Money Disbursed to Date:
$0

Project Status:
Green
Contract Executed:
 
PROJECT STATUSES
Blue - Complete Green - On Schedule Yellow - Progressing Slowly Red - Concerns Pending Orange - Contract Not Executed Black - Cancelled/Declined