ALBANY, N.Y. -- Albany leaders announced the third phase of the Small Business Facade Improvement Program Tuesday. 

Applications are now available for that program, which provides grants to small business owners to help them reinvest in their properties.

The backdrop for that announcement was in front of a building that is being transformed into the "Neighborhood Fresh Market." That transformation was made possible by the second round of this facade improvement program, which matches up to $10,000 of what the business owner is willing to invest in their property. 

"This is an example where that dollar really leveraged a significant  investment of getting abuilding that had been marked with one of our white x's and it is now getting back into use and is going to open as a fresh market in a neighborhood with a need for access to fresh food," said Albany Mayor Kathy Sheehan.

So far, the program has leveraged more than $500,000 in investments. Up to $100,000 will be made in matching grants this fall. 

You can find the application and guidlines for the program here.