20 Hammond Street, Port Jervis, NY 12771 | 845.858.4000 | Business Hours: 9 a.m.-4 p.m.

NEWSLETTER

Industrial Development Agency

Posted on: March 5th, 2015

Industrial Development Agency

Chairman

INDUSTRIAL DEVELOPMENT AGENCY (IDA)
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Mission Statement
The mission of the City of Port Jervis Industrial Development Agency is to strategically provide resources and encourage economic investment and job growth within the City of Port Jervis. These efforts should result in improved economic well-being for the private and corporate citizens of the City. The Industrial Development Agency will advance economic growth by judiciously using its authority to offer qualified project applicants, exemptions from sales and use taxes and mortgage recording taxes, issuing tax exempt bonds, and adopting Payment in Lieu of Tax agreements in conjunction with the City of Port Jervis.
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New York State Authorities Budget Website link: www.abo.ny.gov
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Industrial Development Agencies (IDAs) are public benefit corporations originally authorized by the Industrial Development Agency Act of 1969 (GMU §858) and governed by the provisions of Article 18-A of the General Municipal Law. According to the authorizing statute, the purpose of an IDA is to promote, develop, encourage, and assist in acquiring, constructing, improving, maintaining, or equipping certain facilities, thereby advancing the job opportunities, health, general prosperity and the economic welfare of the people of New York. Each IDA is an independent public benefit corporation established by a special act of the State Legislature at the request of a sponsoring municipality, and each is expected to act in the interest of that particular local government and its residents.The City of Port Jervis IDA is governed by a board consisting of three to seven members. The current IDA board can be seen here. The City of Port Jervis Industrial Development Agency Financial Statements with Independent Auditors Report for 2011 and 2010 can be seen by clicking here. Within this report, information is included concerning the IDA’s operations, completed and active projects, a performance measures report, a schedule of debt, as well as management’s assessment of the IDA’s internal control structure and procedures for 2011 and 2010.The City of Port Jervis Industrial Development Agency Financial Statements with Independent Auditors Report for 2010 and 2009 can be seen by clicking here.  Within this report, information is included concerning the IDA’s operations, completed and active projects, a performance measures report, a schedule of debt, as well as management’s assessment of the IDA’s internal control structure and procedures for 2010 and 2009.
Description: Industrial Development Agencies (IDAs) are public benefit corporations originally authorized by the Industrial Development Agency Act of 1969 (GMU §858) and governed by the provisions of Article 18-A of the General Municipal Law.
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