Orange County IDA reports project activity, adopts updated UTEP and wins state grants

Bill Fiaveranti, chief executive officer of the Orange County Industrial Development Agency, updated the committee on recent IDA board actions, development applications and grant awards.

Fiaveranti said the IDA adopted a revised Uniform Tax Exemption Policy (UTEP). The updated UTEP gives priority to advanced manufacturing, semiconductor supply-chain projects, life sciences and to workforce housing projects that include affordability components — the IDA will consider a project eligible if at least 10% of units are at 60% AMI or 20% at 80% AMI, Fiaveranti said. He said the IDA held the required public hearing for the UTEP but received no public attendees or written comments; the state monitor approved the revised policy.

He reviewed specific project applications and studies. The IDA received an application for sales tax and mortgage-recording exemptions for a private airplane hangar project at Stewart Airport (public hearing authorized). The board also heard a presentation on a proposed downtown Cornwall boutique hotel (about 56 rooms/35,000 sq ft); the applicant is not requesting a PILOT, only sales and mortgage-recording tax exemptions.

Fiaveranti described an Indigo well-field study requested by the city of Middletown and the county: the board considered a proposal (without an open-air reservoir component) with a total professional-services price just over $714,000 and reached a funding plan that included a $514,000 IDA commitment and pledges of roughly $100,000 from the city of Middletown and $100,000 from Orange County government toward the study. He said a legal agreement is being drafted and the project will proceed once the agreement is executed.

The IDA also reported winning grants to advance site readiness: a $500,000 EPA brownfields assessment grant to identify and prioritize contaminated properties for future cleanup and redevelopment, plus two $500,000 FAST New York grants (state) for site preparation work — one for the Aden Brook Business Park (Town of Montgomery) and one for the former Gross-And power-plant site (Newburgh) to study and ready sites for higher-value manufacturing and clean energy-related uses. Fiaveranti said the IDA has an RFP in the market for an environmental firm to do the brownfields assessment, with proposals due Feb. 28.

Fiaveranti also updated the committee on the IDA’s COVID-era resiliency loan program (nearly $500,000 in loans made; roughly $54,000 remains in arrears and has been forwarded to collections) and on oversight by the New York State monitor firm (Anchin), which the IDA pays for and which has provided recommendations the board is addressing.

Ending: Fiaveranti said the IDA would continue to pursue grants and site-preparation work and would provide updates to the committee as the Indigo study and grant-funded projects advance.