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INDUSTRIAL DEVELOPMENT AGENCY

Ruthe Riehle
rriehle@salmun.com   

    MISSION
   
To foster the growth of private sector employment and investment in the City of Salamanca, and support the economic development of the region.

Eligible Projects
Commercial | Educational/Cultural | Industrial | Manufacturing
Recreation | Research and Development | Retail

Types of Assistance
Seek & Administer State and Federal Funds

Whenever practical, external funding asssitance is sought from state and/or federal sources and administered by the agency to augment overall project financing. Partner agencies have included US Department of Housing and Urban Development, United States Department of Agriculture, NYS Office for Small Cities, and the NYS Office for Community Renewal.

Administer Revolving Loan Fund
Activities funded are subject to HUD regulations and therefore must meet one of the following objectives: benefit low to moderate income persons, preventio or elimination of slums or blight, or meet community development needs having particular urgency (i.e. serious and immediate threat to health or welfare).

The agency may authorize loans for facility construction, acquisition, rehabilitation, or improvement of industrial or manufacturing facilities, research and development facilities, or other eligible business facilities located within the city.

In addition, the agency may also finance a portion of the cost of a firms machinery and equipment to be used and located within the city.

Property Acquisition and Management
The agency may also acquire and manage buildings and/or property for lease to private enterprise firms.  Such real property is exempt from property taxes, however the agency requires a negotiated schedule of payment in lieu of taxes (PILOT) arrangement.

Tax Abatements and Exemptions
In addition to property tax abatements, other NYS tax benefits include exemption from mortgage and deed transfer taxes.

Sale of Bonds and Notes
Project Management

2014 Work Plan Initiatives
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  Preserve and grow the industrial/manufacturing cooridor (Rochester Street and Morningside Drive)
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Main Street Redevelopment (including rehabilitation of 117 1/2 Main Street into fooice space)
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Compliance with applicable local, state, and federal regulations and NYSEDC best practices recommendations
-Administration of City, State, and Federal grant and loan programs
- Commercial property management
 




2
25 Wildwood Avenue, Salamanca NY 14779 
  Phone: 716-945-3230   |  Phone: 716-945-3171 | Fax: 716-945-5033

IDA Hours:

Mon.    8:30 AM - 4:00 PM
Tues.    8:30 AM - 4:00 PM
Wed.    8:30 AM - 4:00 PM
Thurs.  8:30 AM - 4:00 PM
Fri.       8:30 AM - 4:00 PM
REGULAR MONTHLY MEETINGS
Regular monthly meetings are hold of the 2st Tuesday of every month.  Unless otherwise noted, meetings are held at 4:30 PM in the City Hall Conference Room at 225 Wildwood Avenue.

REGULAR BOARD MEETING AGENDA
1.  Call To Order

2.  Approval of Past Regular Meeting Minutes
3.  Correspondence
4.  Section 8 Report
5.  Executive Director's Report
6.  Old Business
7.  Public Participation/Updates from Other Agencies
8.  Accept Reports/Approve Transfers and Pay Bills
9.  Executive Session, if necessary
10.  Adjournment

IDA-RELATED LINKS

Current Agenda
Articles of Incorporation
Board Committees
Board of Directors
By-Laws
Code of Ethics
Debt
Disposition of Real Estate and Personal Property Policy
Executive Team
Investment Policy
Minutes
Multi-Agency Loan Application
Operations and Accomplishments
Organizational Chart
Personal and Real Property Transactions
Procurement Policy
Uniform Tax Exemption Policy UTEP
Real Estate Acquisiton Policy
Travel Policy
Whistle Blower Policy
2017/18 Procurement Transactions
2017 Annual Investment Report
2017 Measurement Report
2017 Net Assets
2017 Real Property Schedule
2017 Schedule of Bonds
2016 ABO Budget
2016 Independent Audit Report and Management Letter
Salamanca Area Development Corporation (SADC)

2017 SADC Budget