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Informational meeting with REDC staff and
preliminary determination of eligibility.
Application submission to IDA Executive
Director - completed application must be
delivered 10 business days prior to the
IDA meeting when action is required.
Completed application reviewed by staff
and sent to Project Counsel and/or Bond
Counsel for preparation of Inducement
Resolution, Notice of Public Hearing and
Project Commitment Fee Invoice, if applicable;
Completed
application sent to IDA members for review
7 business days prior to IDA meeting when
action is required;
Notice
of Public Hearing published 30 days in
advance of hearing.
Regular Meeting of IDA Members: unless notified
otherwise, 3rd Tuesday of the month at 7:00
p.m., IDA meeting room, One Blue Hill Plaza,
11th floor, Pearl River, NY. **
Applicant attends meeting to provide
additional information, if necessary.
If adopted by the IDA Members, Applicant
signs Inducement Resolution.
Members
may:
i. adopt Inducement Resolution
at this meeting or
ii. defer adoption until after the public
hearing or
iii. request additional information
and adopt at a later date or
iv. not approve the Project.
Adopted Inducement Resolution sent to the
County Executive for review and approval.
Fully executed Inducement Resolution sent
to Company. IDA Project Counsel and/or IDA
Bond Counsel contacts Company's Counsel.
Public Hearing held in a public space in
the taxing jurisdiction of the Project.
Appropriate parties review transaction documents;
PILOT meeting is held, agreement prepared
and distributed, if applicable.
Authorizing or Bond Resolution at regular
meeting of IDA members
Adopted Authorizing or Bond Resolution sent
to the County Executive for review and approval.
Closing
*Timing: Transactions
determined to be eligible for assistance
and that have financing commitments, if
applicable, can typically complete the application
and approval procedures within 90 days.
** Meeting notice is
published in The Journal News.
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