The City of Poughkeepsie Industrial Development Agency exists to promote the economic and social advancement of the city through inclusionary & equitable development strategies that ensure participation by and a benefit to the diverse body of residents and businesses within the city by providing incentives encouraging regenerative business and entrepreneurial investment that create and diversify job and apprenticeship opportunities, improve and strengthen our tax base, thereby reducing the tax burden on homeowners, and increasing the overall health & vitality of our community.
IDA Application Materials
The City of Poughkeepsie Industrial Development Agency was formed under Article 18 A of the NYS General Municipal Law as a public benefit corporation. It can provide financial assistance consistent with the aforementioned law. It is subject to compliance with the Public Authorities Accountability Act of 2005 and Public Authorities Reform Act of 2009.
- City Residents
- City Council & Government
- City of Poughkeepsie Business Community
Performance Goals and Measures:
GOAL #1: PROMOTE EQUITABLE & REGENERATIVE INVESTMENT FOR DEVELOPMENT, JOB CREATION AND RETENTION
- Support attraction of business, business retention, and job generation in collaboration with local and county economic development organizations – respond to leads and to existing businesses to determine eligibility for IDA financing and other business assistance, make referrals, and support/facilitate local and regional economic development initiatives.
- Further development in priority areas as defined in the Uniform Tax Exempt Policy.
- Induce and execute eligible projects that generate investment, stabilize impacted census tracts, encourage community engagement, and create & retain job/apprenticeship opportunities.
GOAL #2: UNDERTAKE COMPLIANCE REQUIREMENTS
- Hold at least two (2) Governance and Audit Committee meetings a year.
- Annually review and re-adopt policies and operations.
- Monitor economic data.
- Conduct open meetings.
- Complete an annual independent audit.
- Monitor projects.
- Complete PARIS reporting.
- Maintain and update IDA website.
- Manage projects and agency in conformance with all applicable state laws and regulations.
Have the board members acknowledged that they have read and understood the mission of the public authority?
Who has the power to appoint the management of the public authority?
The members of the agency approve appointment following full board interview and review of the applicant’s experience by the Governance Committee.
If the Board appoints management, do you have a policy you follow when appointing the management of the public authority?
Yes, the Agency’s by-laws as amended establishes responsibilities and experience required for its management positions.
Briefly describe the role of the Board and the role of management in the implementation of the mission.
The Board creates policy, establishes best practices, and directs the management of the agency with advice from Counsels. It directs agency goals and monitors achievements/completion of tasks. Management implements policy and is responsible for the day-to-day operations of the agency in compliance with state laws, regulations, and best practices.
Has the Board acknowledged that they have read and understand the responses of each of these questions?