ECONOMINC 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.
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
Community Development Downloads
CDBG Action Plan 2012 (2.4 MiB, 1,313 hits)
EDLF Application (162.6 KiB, 829 hits)
Analysis of Impediments to Fair Housing Choice (6.9 MiB, 1,221 hits)
2013-2017 Consolidated Plan Executive Summary (99.3 KiB, 1,163 hits)
2013-2017 Consolidated Plan Strategic Plan (118.9 KiB, 1,180 hits)
2013-2017 Consolidated Plan (12.3 MiB, 873 hits)
2015 CDBG - Application Policies & Procedures (109.2 KiB, 905 hits)
2015 CDBG - Application (223.3 KiB, 747 hits)
2014 CDBG - Legal Notice (58.8 KiB, 563 hits)
2014 HOPWA Request for Funding Application (245.2 KiB, 617 hits)
2012 Draft Consolidated Annual Performance and Evaluation Report (CAPER) (2.8 MiB, 2,030 hits)
2014 Draft Annual Action Plan (1.4 MiB, 1,342 hits)