ECONOMIC DEVELOPMENT INCENTIVES
The City of Poughkeepsie offers many winning opportunities for new businesses and private investors, such as:
- The ability to purchase or rent space at considerably below prevailing metropolitan rates
- Attractive loan packages
- Economic Development Zone tax incentives
The availability, amount and terms of assistance are subject to negotiation and the nature of the development proposed, including the number of new jobs to be created and a commitment to hiring City residents for those jobs.
Commercial Facade Improvement Grant Program: Grants shall be used for materials, supplies and rental equipment necessary to complete the façade improvement project. The Grant will not exceed 100% of the total costs of these materials with a maximum grant of $7,500 – one grant per tax parcel. These Grants are funded through the Community Development Block Grant program and are subject to availability of funding. Grants will be subject to approval by the City of Poughkeepsie’s Façade Improvement Grant Committee. Written contractor estimates for proposed material, supply and rental equipment costs are required prior to approval.
Community Development Block Grant (CDBG): This is a Federal grant authorized through the U.S. Department of Housing and Urban Development. This Grant provides funding to non-profit agencies or City projects that directly benefit low and moderate income residents of the City. Past recipients include, but are not limited to, day care facilities, homeless shelters, domestic violence programs, sidewalk/street improvements, after school programs, etc.
Economic Development Loan Fund (EDLF): The EDLF offers low-interest rate loans to new and expanding businesses in the City of Poughkeepsie. The main objective of this loan fund is to encourage business growth and create and/or retain jobs for low and moderate-income City residents. Under present terms, subject to adequate credit history, owner equity, collateral and financials of business and principals, a maximum of $50,000 is available at prime or below prime interest rate with repayment options up to 15 years. Loan funds may be used for partial remodeling or fit-up costs, leasehold improvements, machinery and equipment and inventory (start-up businesses only). The EDLF is funded through the Community Development Block Grant and is subject to availability.
First Time Home Buyers: A First Time Homebuyers Program is being administered by Hudson River Housing’s Homeownership Center. For additional information and application contact Mary Linge, Hudson River Housing, 313 Mill Street, Poughkeepsie, NY 12602 (845) 454-9288.
Building Planning & Zoning
City Hall – 2nd Floor
Monday through Friday
8:30 am to 4:30 pm