Project Approval Process
Obtaining IDA benefits is guided by certain regulations contained
in New York State General Municipal Law 18A. The following outlines
the steps involved in the project approval process:
- The organization determines that it meets one or more of the
project eligibility criteria outlined in the “Is
my business eligible?” section.
- The organization completes an IDA Project Work Sheet (click
here to download a printable PDF of the Work Sheet), and submits
it by fax to (914) 995-3044, or e-mails it to ida1@westchestergov.com.
Once submitted, the IDA and Office of Economic Development staff
will arrange for a conference with the organization to discuss
the eligibility of the project, types of benefits that can be
provided, terms and conditions of a project agreement between
the Agency and organization, and amount of legal and agency fees
involved in executing the project.
- Following review of the project by the IDA, the organization
will be invited to submit an application. Bond projects and straight
lease projects each have intervening steps to preparing an application.
An application fee of $250 is required when the application is
submitted. Small business, bond and straight lease applications
are available electronically once an organization has met with
the Agency and is determined eligible for IDA assistance.
- The application is presented to the board members of the Industrial
Development Agency and must be formally “induced” --
tentatively approved. (Agency board meetings are held on the first
Thursday of the month. The organization requesting assistance
and its legal counsel attend the meeting to answer any questions
that the board may have.)
- Once a project is induced, the IDA must publish a public notice
advising of the actions and benefits to be provided to the organization.
A 30-day notification period must be given to the municipality
in which the project is located. During this period, counsels
for both the Agency and project prepare the project document.
Bond projects involve compiling a team necessary to execute the
indentures involved in an issuance.
- Following the expiration of the 30-day period, and once a public
hearing is held and the project documents are completed, the IDA
board must vote to authorize the execution of the project.
- The project agreements are executed. The Agency issues a Sales
Tax Exemption Letter to the project and files an exemption document
with New York State.
- During the term of the agreement, the applicant is required
to make annual reports to the IDA, detailing the amount of benefits
taken and number of jobs retained or created. Consistent with
state law, the organization receiving benefits is also required
to file job openings with the county’s workforce development
office.
Westchester County Industrial Development Agency
Room 903, Michaelian Office Building
148 Martine Avenue
White Plains, NY 10601
Phone:914.995.2916, Fax: 914.995.3044, E-mail mgg8@westchestergov.com
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