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Albany Local Development Corporation (ALDC)Since its incorporation in 1979, the Albany Local Development Corporation (ALDC) aims to facilitate the creation of new employment opportunities, the retention of existing jobs and to encourage investment that will expand the commercial and industrial tax base for the City of Albany. ALDC achieves this through its lending programs and its facilitation of transformational development projects that the City has identified as priority in the Capitalize Albany strategy.
ALDC is a 501c(3) not-for-profit organization that operates as a self-sufficient entity, which receives no support from the general fund of the City of Albany. A Board of Directors governs the organization and has general power to control and manage the affairs and assets of the corporation. Funding for ALDC activities is derived from several sources including loan repayments and recapitalization, real estate and project development revenues, fees for services, grant proceeds, and membership dues.
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