IDA – City of Poughkeepsie Industrial Development Agency

News & Announcements

Industrial Development Agency – June 22, 2017

PLEASE TAKE NOTICE that the Industrial Development Agency of the City of Poughkeepsie, will meet on Thursday, June 22 at 9:30 a.m., in the Common Council Chambers, Third Floor, City Hall/Municipal Building, 62 Civic Center Plaza, Poughkeepsie, New York.

Industrial Development Agency Meeting – May 16, 2017

PLEASE TAKE NOTICE that the Industrial Development Agency of the City of Poughkeepsie, will meet on Tuesday, May 16, 2017 at 9:30 a.m., in the Common Council Chambers, Third Floor, City Hall/Municipal Building, 62 Civic Center Plaza, Poughkeepsie, New York.

IDA Meeting Cancelled – April 20, 2017

The Thursday, April 20, 2017 meeting of the City of Poughkeepsie Industrial Development Agency (IDA) has been cancelled.  The next meeting is scheduled for Tuesday, May 16, 2017 at 9:30am.

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Mission Statement

The mission of the City of Poughkeepsie Industrial Development Agency is to advance the job opportunities, health, general prosperity and economic welfare of the people of the City of Poughkeepsie and to improve its recreation opportunities, prosperity and standard of living, through the promotion, development, encouragement and assistance of industrial, manufacturing, warehousing, commercial, research and recreation facilities, educational or cultural facilities, health care facilities and continuing care retirement communities, in the City of
Poughkeepsie.

Enabling Legislation:

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.

Stakeholders:

  • City Council and City Government
  • Residents of the city
  • City of Poughkeepsie’s business community

Performance Goals and Measures

Goal #1: Promote private investment for development, job creation and retention

Measures:

  • Support attraction of business, business retention, and job generation through coordination 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 (TOD) areas as defined in the Uniform Tax Exempt Policy.
  • Induce and execute eligible projects that generate private investment, stabilize impacted census tracts, and create or retain jobs.

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.

Additional Questions

Have the board members acknowledged that they have read and understood the mission of the public authority?

Yes.

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?

Yes.