ALBANY, N.Y. (NEWS10) — A first-of-its-kind tool lending library will open its doors in Albany on Wednesday, Aug. 24, after a ribbon-cutting ceremony. The ceremony will be attended by Mayor Kathy Sheehan, along with other elected officials, staff, and supporters.

The event will be held at the Historic Albany Foundation headquarters, located at 89 Lexington Avenue. While the foundation said any Albany resident can borrow from the Tool Library, their primary focus will be on the city’s most disadvantaged neighborhoods including Arbor Hill, West Hill, Sheridan Hollow, the South End, and Park South.

“Libraries of things have been growing in popularity as an antidote to waste, the excess of consumerism, and the issue of ongoing inequality,” said the foundation in a press release. “For a minimal fee of $20, all members will be able to borrow and return items as and when needed.”

The goal of the project is to transform neighborhoods, one property at a time. Tools can often be expensive, and the foundation says the simple act of being able to borrow a tool, gain instruction and knowledge of its use, can create a pathway to that transformation.

Funds for the new Tool Lending Library have been provided by the City of Albany’s American Rescue Plan Act (ARPA) funds, the Bender Family Foundation, the County of Albany, and many individual donors. The library will be open Wednesdays from 3-6 p.m.