Board of Directors Meeting
March 20, 2018
Common Council Chambers
97 Mohawk Street
Cohoes, NY 12047
AGENDA 2018 Meeting Schedule
NOTICE OF PUBLIC HEARING ON PROPOSED PROJECT AND FINANCIAL
ASSISTANCE RELATING THERETO
Notice is hereby given that a public hearing pursuant to
Section 859-a(2) of the General Municipal Law of the State of New York
(the "'AcC) will be held by the City of Cohoes Industrial
Development Agency (the --Agency'') on the 22nd day of February, 2018 at
12:15 o'clock p.m., local time in the Common Council Chambers of Cohoes
City Hall located at 97 Mohawk Street in the City of Cohoes, Albany
County, New York in connection with the following matters:
A Message from the Executive Director
As Executive Director of the Cohoes
IDA, my primary focus is simple: safeguard the integrity of the IDA
while finding every opportunity available to help rebuild our great
City. Today, I am proud to say we have achieved both.
The goal of 2016 was to ensure the IDA
complied with the 2015 New York State Public Authorities Law Reform
Legislation, and our policies and procedures were updated.
The Staff and Board achieved this by
streamlining the application process and developing 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
Please see a list and copies of all
policies and procedures adopted by the IDA under the Policies Tab on
It is my honor and privilege to be
serving the citizens of Cohoes as we work together to rebuild this
As always, we continue to work towardsCohoes Proud.
City of Cohoes Sidewalk Improvement Project
Funds will be used to replace
non-compliant sidewalks in the Historic District along Remsen Street
from Cayuga to Ontario Streets.
The City of Cohoes' Erie Canal
The City of Cohoes will develop
canalrelated exhibits in time for the Erie Canal Bicentennial, featuring
a model of a working lock, a Harmony Mills machinery model, and interactive kiosks. The project will
celebrate the Canal’s legacy to the development of Cohoes and New York State.
Cohoes Visitor Center
This project will create an engaging
Canal exhibit for the Cohoes Visitor’s Center in time for the Erie Canal bicentennial
celebration and will feature a model lock and other model machines. The
project is part of a larger revitalization effort to support tourism in
The City of Cohoes will install porous
pavers, bioretention, street trees and a rainwater
harvest and reuse system at Canal Square Park. This project will
revitalize a deteriorating
city park by establishing the Remsen Street Arts and Heritage District
and also improve
water quality in the Hudson River by reducing runoff to a combined sewer
Canal Square Park Expansion Project
The City of Cohoes has prepared a plan to
construct improvements and to expand Canal
Square Park. The acquisition of the adjacent parking area (84 Remsen
this expanded park/site programming. Canal Square Park will serve as a
event space and broaden programming on the site to spur additional
visitation, recreation, and investment in downtown.
City of Cohoes Sidewalk
Funds will be used to replace non
ADAcompliant sidewalks in the Historic District along Remsen Street.
Columbia Street Green
Infrastructure Phase II
The City of Cohoes will complete an
engineering report to study installation of green infrastructure
practices and construction of separate storm and sanitary
sewers to eliminate combined sewer overflow.
Construction of Remsen Street
Sidewalks - Ontario Street to Howard Street
As part of an ongoing sidewalk improvement
project in downtown, the City of Cohoes will reconstruct sidewalks along
both sides of Remsen Street from Ontario to Howard
Streets. The Complete Streets improvements will encourage walkability,
economic growth, and ensure the safety and convenience of pedestrians,
users of nearby mass transit.
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 Agency’s 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 city’s 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