Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development Compliance topic
No spam. Unsubscribe anytime.
IDA denies assignment of JBF Steel project citing missed pilot payments and job-reporting failures
Summary
The board voted to deny an assignment application for the JBF Steel project after staff and counsel found failures in job reporting and missed pilot payments; the motion was recorded and staff will notify the applicant of the decision and reasons.
The Herkimer County IDA voted to deny an application to assign the JBF Steel project to an entity associated with the Feldmeier group, citing noncompliance with reporting requirements and missed payments under the project's pilot agreement.
Tony (agency counsel/administrator) told the board that the application submitted on behalf of the assignee was generally adequate in form but lacked clear, current job‑reporting information and that the agency could not verify pilot payments for 2024. Board members and staff said prior submissions from the current operator had contained inaccurate contact information and inconsistent management reporting.
Board members discussed options, including conditioning approval on required documentation, but counsel advised denial was appropriate given the defaults. The board voted to deny the assignment; counsel will notify the applicant and list the reasons for denial (failure to comply with job reporting and default on pilot payments).
