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Links roundup—IDA, LDC & URA edition

October 14, 2011
  • A new report from the Partnership for Public Good, Generating Waste, criticizes the economic development practices of NYPA and various IDAs in western New York. [Report: Generating Waste] [Niagara Gazette] [Buffalo News] [WBFO]
  • How PILOTs should be used now that there’s a tax cap: “Taxing jurisdictions should encourage their local industrial development agencies (“IDAs”) to provide fixed dollar or otherwise predictable PILOTs to commercial property owners. The resulting stability is needed by, and would benefit, both the companies who employ our citizens and by the taxing jurisdictions.” [NY Muni Blog]
  • The Greene County IDA approved a commitment of $100,000 for disaster relief funding for local businesses struggling to rebuild following tropical storm Irene. [Daily Mail]
  • An electronic medical records company located in Brighton is receiving $750,000 in tax credits from ESDC as well as a sales tax break from the County of Monroe IDA. The company is expected to invest $3 million over the next five years and add five to ten new jobs this year, as well as up to 20 new jobs in 2012. [Rochester Business Journal]
  • An aerospace machining company is received a $100,000 grant from ESDC and a $75,000 loan from the Herkimer County IDA to help with the expansion of its West Winfield facilities. [Binghamton Business Journal]
  • Ulster County Executive Michael Hein suggested that the county should create an LDC to manage its nursing home facilities. [Shawangunk Journal]
  • But Ulster County Comptroller Elliott Auerbach is questioning whether an LDC is the best approach for dealing with the county-run nursing home. His office is reviewing Hein’s proposal, and it also prepared a fact sheet for the public on LDCs. [Ulster County Comptroller]
  • And U.S. Senators Charles Schumer and Kirsten Gillibrand announced grants for the Clayton Local Development Corporation (a local public authority LDC) and the Lewis County Development Corporation (probably a local public authority LDC) from the Northern Border Regional Commission. [Press Release for Sen. Schumer]
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