What is the purpose of an IDA?

The IDA was established under New York State law to assist economic development projects that create or otherwise foster employment and improve the municipal tax base. This assistance is provided in the form of one or more tax exemptions or abatements to promote, develop and assist in acquiring constructing, equipping and furnishing of qualified projects and facilities.

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1. What is an IDA?
2. What is the purpose of an IDA?
3. What are the benefits an IDA provides to applicants?
4. Who can apply for IDA benefits?
5. What is the cost of IDA involvement?
6. What is the process to apply for IDA benefits?
7. How are Board members selected?