How IDAs operate
IDA benefits usually come in the form of a PILOT – payment in lieu of taxes – an agreement between the agency and a qualifying business. The payment made by the business to the IDA replaces the taxes...
View ArticleLI IDAs recoup little on deals gone bad
When a company receiving tax breaks from a local industrial development agency fails to hold up its end of the bargain, the IDA can terminate the benefits. But the agency can also move to recapture the...
View ArticleExpired ban on retail benefits boosts IDAs
The lapse of a state law barring industrial development agencies from backing retail projects has led to a jump in IDA support for deals ranging from auto dealerships to new malls and shopping center...
View ArticleCuomo makes case for state IDA oversight
Speaking on Long Island today, Gov. Andrew Cuomo again reiterated his support for giving state oversight to tax breaks given to companies through local industrial development associations.
View ArticleThe Poll: IDA oversight
Should regional economic development councils be given oversight over IDA tax benefits?
View ArticleLong Island IDAs face spending crisis
Long Island’s industrial development agencies have stashed away $12 million in fees, and thanks to tougher state oversight they have fewer ways to spend it.
View ArticleComputer Associates did change its name, however
Pat Halpin, meet Bruce, not George Ferguson.
View ArticleDiNapoli IDA audit finds better reporting
A recent report by New York State Comptroller Tom DiNapoli on the state’s 113 industrial development agencies was less critical than in previous years.
View ArticleStricoff seeking Suffolk IDA top spot
Babylon IDA CEO Robert Stricoff has formally applied to become the next executive director of the Suffolk County IDA.
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