IDA/CLD

Calendar Quick Link:   2024 Meeting Calendar
                                                                                   
Industrial Development Agencies
Industrial Development Agencies (IDAs) are formed under Article 18-A of the New York State Municipal Law (GML) as public benefit corporations. IDAs actively promote, encourage, attract, and develop job and recreational opportunities and economically sound commerce and industry in cities, towns, villages, and counties throughout New York State.

IDAs provide financial assistance through tax incentives to qualified applicants in order to promote economic welfare, prosperity, and recreational opportunities for residents of a municipality.

Corporation for Local Development

Pursuant to the purposes and powers contained within Section 1411 of the Not-for-Profit Corporation Law of the State of New York (the "State"), as amended, and pursuant to its certificate of incorporation filed on August 17, 2012, the CITY OF NEW ROCHELLE CORPORATION FOR LOCAL DEVELOPMENT was established as a not-for-profit local development corporation of the State with the authority and power to own, lease and sell personal and real property for the purposes of, among other things, acquiring, constructing and equipping certain projects exclusively in furtherance of the charitable or public purposes of relieving and reducing unemployment, promoting and providing for additional and maximum employment, bettering and maintaining job opportunities, instructing or training individuals to improve or develop their capabilities for such jobs, by encouraging the development of, or retention of, an industry in the community or area, and lessening the burdens of government and acting in the public interest.


2024 Budgets for IDA and CLD

The IDA and CLD 2024 Budgets were approved at the October 25, 2023 IDA and CLD Meetings
 
View 2024 IDA Budget

View 2024 CLD Budget