The Cohoes IDA Committee Meeting
November 21, 2017
A Message from the Executive Director
2016 has been a year of transition for the new Cohoes IDA
administration. The Staff and Board of the Cohoes Industrial
Development agency has been hard at work streamlining the
application process and bringing the process in compliance with the
2015 New York State Public Authorities Law Reform Legislation. In
addition, the Board has approved a comprehensive set of new policies
and procedures required by the New York State Public Authorities Law
and Article 18-A of the General Municipal Law. Please see a list and
copies of all policies and procedures adopted by the IDA under the
Policies Tab on the website.
IDA staff has also been working on a comprehensive review of all IDA
documents and has developed document retention policies and
procedures for electronic storage of documents that has resulted in
a new document management system for the IDA. This new system will
assist the IDA in being more transparent in making documents readily
available to the public pursuant to the Freedom of Information Law.
As always, we continue to work towardsCohoes Proud.
Hon. Shawn Morse - Chief Executive Officer
Cohoes has been awarded
Comprehensive Plan Development
The City of Cohoes will revise its Comprehensive
Plan to address both the needs of the community and evaluate how these
needs fit into the strategic plan for the region. The Plan will foster
regional collaboration, open doors to new funding opportunities, and is
expected to increase the number of jobs.
Combined Sewer Overflow(CSO)Clean Water Project Award $30,000
The City of Cohoes will complete an engineering
report to address combined sewer overflows at Vliet Blvd. This project
is identified in the Albany Pool CSO Long Term Control Plan.
Matton Shipyard Adaptive Reuse Project Award $238,642
The Erie Canalway Heritage Fund (ECHF)will
develop a feasibility plan for the Matton Shipyard to develop a strategy
for preservation and use of existing structures and waterfront,
including one building used as ECHF headquarters; identify a flood
protection strategy; and assess the feasibility of a multi-agency use of
The Matton Shipyard, established in 1916, is located on Van Schaick
Island in Cohoes, New York at the junction of the Hudson and Mohawk
Rivers. Matton is a rare surviving example of an early 20th century
civilian ship building and repair facility.
The Mission of the Cohoes Industrial Development Agency (IDA) is to promote, develop, encourage and assist in acquiring, construction, improving, maintaining or equipping certain facilities thereby advancing the job opportunities, health, public safety, recreational opportunities, general prosperity and economic welfare of the people of the City of Cohoes. This can be accomplished by supporting the goals and plans of the City of Cohoes which include growth of the City through innovative programs and increased tourism and trade.
The agency was formed under the New York State Industrial Development Agency Act of 1969, and is governed by a Board of five people. Date Adopted: 9/10/2012
To meet all legal requirements of the Agency. To review project employment goals and the achievement of those goals. To make decisions consistent with the Agencys mission statement. To make decisions that will promote and ensure the prosperity of the residents of the City of Cohoes. To support the City of Cohoes by investing in projects that will create opportunities for the continued growth of the City.
Security cameras along Remsen
Street meant to promote safety, security
The citys Industrial Development Agency, which funded MORE.....
The Cohoes Industrial Development Agency is appointed by the mayor and common council. Seven non-compensated members are chosen to the board. The agency is able to provide
Payments in Lieu of Taxes (PILOTS)
, bonding assistance and sales and use tax exemption for new construction and business.
The Cohoes IDA helps to provide industrial revenue bonds to larger, financially strong, industrial, manufacturing, agribusiness, corporate offices and research and development projects that are best suited for this form of financing. An alternative to industrial revenue bonds would be a Sale/Lease Back Transaction ideally suited for real estate/facility projects.
Industrial facilities constructed and/or reconstructed with the use of Industrial Revenue Bonds or Sale/Lease Back Transactions through the CIDA are eligible for real property tax exemptions. The agency holds title to the project and a
Payments in Lieu of Taxes (PILOTS)
is negotiated between the agency and the company that abates a portion of the real property tax.
For more information about either one of these entities please contact their offices at 518.233.2117