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Mount Vernon IDA discusses standardizing cost-benefit analysis and updating UTEP; staff to seek third-party models
Summary
The board discussed adopting a more rigorous, standardized cost-benefit analysis and updating its Uniform Tax Exemption Policy (UTEP). Members referenced a model used by Worcester and suggested issuing an RFP for third-party analysis to better forecast school-district and city fiscal impacts.
Mount Vernon IDA members discussed steps to standardize their cost-benefit analysis and to revise the Uniform Tax Exemption Policy (UTEP) to better predict fiscal impacts on the city and school district, staff said.
Board members and staff said current practices do not provide adequate, consistent analysis when reviewing PILOT requests and that several projects…
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