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Links Roundup: Inside New York State

March 31, 2014

Last week the ABO issued the report of its investigation of the Town of Montgomery IDA.  The investigation was in response to a complaint they received that the IDA had inappropriately acted when it approved financial assistance to a project.  The report has received some local press. The link is below.  The report is public and on the ABO web site. 

http://www.prnewswire.com/news-releases/state-investigation-finds-unfi-given-14-million-without-due-process-252676891.html

Links Roundup: IDAs

March 25, 2014

Texas company proposes upgrades at NY airport

Wall Street Journal

The Journal News (http://lohud.us/1lG9PjX ) reports that the Westchester County Industrial Development Agency voted Thursday to negotiate a $40 

LDC will issue tax-exempt bonds to HWS

Finger Lakes Times

entities like HWS, Finger Lakes Health and the New York State Agricultural By law, the city’s Industrial Development Agency is limited to providing 

Accent on New Paltz: Dear Ulster County Industrial Development Agency

New Paltz Times

paul brown SQ Please include this communication as part of the permanent record of the public hearing held on Jan. 28, 2014 in New Paltz, New York 

Lawsuit filed against ECIDA over Uniland project

Business First of Buffalo

started legal action against the Erie County Industrial Development Agency over The action was filed before New York State Supreme Court Justice John Officials from the ECIDA and the New York City-based law firm, Heller 

Community Bank eyes Olean for mortgage office

Business First of Buffalo

according to the agenda for the Cattaraugus County Industrial Development Agency’s Feb. 13 meeting. The $6 million project would support the bank’s mortgage processing operations across New York state and could include the 

Geneva IDA to discuss downtown revitalization project

Finger Lakes Times

GENEVA — The New York Main Street Downtown Revitalization Project will be discussed by the Geneva Industrial Development Agency board when 

Orange County IDA OKs $500000 for Amy’s Kitchen food plant

Times Herald-Record

NEW WINDSOR — The Orange County Industrial Development Agency on Thursday approved giving $500,000 to The money from the IDA piggybacks on $800,000 New York state plans to give Amy’s Kitchen for infrastructure 

Play Ball: Yankee Stadium Keeps ‘BBB’ Bond Rating Despite Attendance Drop

CoStar Group

U.S. baseball park operator Yankee Stadium LLC’s combined bond offerings issued by the New York City Industrial Development Agency (NYCIDA) 

New York IDAs just can’t say ‘no’

Rochester Democrat and Chronicle

Last year, the County of Monroe Industrial Development Agency board, which But they have little recourse: In New York, IDA’s powers are largely 

LI, NYC businesses wooed by New Jersey again

Newsday

New York and New Jersey had the worst and second-worst tax climates last year, said Joseph J. Kearney of the Nassau County Industrial Development Agency. New York State has been rolling out its START-UP NY program for 

Dutchess County Industrial Development Agency: Audit criticisms are ‘unrealistic’

Poughkeepsie Journal

But it has also brought a pointed response from the Dutchess agency, suggesting that some criticisms from New York state Comptroller Thomas 

 

Two Islip, New York, Manufacturing Firms Plan Expansion Projects

Area Development Online

Two Islip, New York, Manufacturing Firms Plan Expansion Projects According to Islip Industrial Development Agency, the firm plans to renovate its 

New board member named at Niagara County IDA

Business First of Buffalo

Jerald Wolfgang, the director of the Western New York Regional Education Center for Economic Development, has been named to the board of the Niagara County Industrial Development Agency. Wolfgang, a Lewiston resident, fills 

Mortgage company expanding, adding 249 jobs

WBFO

County Industrial Development Agency and qualifies for up to $1.5 million in performance-based New York State Excelsior Jobs Program tax credits.

Catsimatidis to turn grease into gold with Greenpoint biodiesel plant

The New York World

Metro Fuel Oil had been granted $10 million in bond financing and other benefits from the New York City Industrial Development Agency in 2007 to 

Jerald Wolfgang appointed

Niagara Frontier Publications

Jerald I. Wolfgang, director of the Western New York Regional Education Center for Economic Development, has been appointed a member of the Niagara County Industrial Development Agency. The NCIDA provides a variety of 

Geneva IDA to make decision on adding to Main Street grant

Finger Lakes Times

the city’s New York Main Street grant will be made at the 8 a.m. Tuesday meeting of the Geneva Industrial Development Agency Board of Directors.

NCIDA: Henry Sloma elected chairman of the board of directors

Niagara Frontier Publications

The Niagara County Industrial Development Agency board of directors today elected Henry M. Sloma as chairman of the board at the agency’s annual 

Roth Steel closed owing county development agency $60000

The Post-Standard

of Roth Steel has left the Onondaga County Industrial Development Agency OnTrack’s operator, Cooperstown-based New York, Susquehanna 

Links Roundup – LDCs

March 25, 2014

State agency awaiting audits from Joseph Davis State Park group

Niagara Gazette

Niagara Gazette — The New York State Authorities Budget Office is still waiting for annual audits and budget reports from a local development corporation created to oversee operations at Joseph Davis State Park. Earlier this year 

 Now the work begins

The Warwick Advertiser

In the recent transfer the Warwick Valley Local Development Corporation paid $3.5 million for a 150-acre parcel of great location,” he said, “Empire State Development will be offering economic incentives through New York State.

 

Links Roundup – Public Authorities

March 25, 2014

Penn Yan LDC cited for not filing budget, audit reports

Finger Lakes Times – Until that happens, it’s obligated to comply with state Public Authorities Law regarding submission of annual, budget and audit reports. The 2013 

Live chat with Richard Brodsky today at noon: Talk reforming the Port Authority

The Star-Ledger

Brodsky, a former New York assemblyman who authored the Public Authorities Reform Act, is now a senior fellow at the progressive think tank Demos  

Judge: Mineola should not have taxed MTA

Newsday

The transit agency argued that the state’s public authorities law exempts it from property taxes; but village officials said the property at 250 Old Country 

Gulnara Shamshieva: Country’s authorities should resolve issue with accession to CU, there is

24

“The public authorities should resolve the issue on accession to the Customs Union, because we can observe a crisis of overproduction in agriculture 

NYS Non-Government Report

January 7, 2014

NYS Non-Government Report

Regional Review: A Closer Look at New York’s $7 Billion Subsidy System, released by the Alliance for a Greater New York, focuses on IDAs.  http://www.alignny.org/posts/resource/2013/05/the-7-billion-wager-new-york-states-costly-gamble-in-economic-development/ 

Links Roundup: Inside NYS Edition

December 18, 2013

ABO Final Report of Carthage Industrial Development Corporation

The Authorities Budget Office (ABO) is undertaking a series of reviews of selected local development corporations (LDCs) across the state to better understand the public purposes for which each LDC was formed, and to gain insight as to how these corporations function and expend public funds. These reviews will also increase public awareness of the operations of LDCs.  The ABO has completed its limited scope review of the Carthage Industrial Development Corporation (CIDC).  The report concludes that although CIDC has undertaken various economic development projects in the area, it also funds activities that are not related to its core mission, such as subsidizing municipal operations and managing residential housing. This report is posted on the ABO web site at http://www.abo.ny.gov/reports/compliancereviews/CarthageIndustrialDevelopmentCorporationFinal%20Report2013.pdf and available to the public at: www.abo.ny.gov

Links Roundup: Inside NYS Edition

December 18, 2013

Links Roundup: Inside NYS Edition

Report from the Office of the State Comptroller.

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