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Herkimer County IDA adopts housing-focused tax-exemption policy, asks staff to cite HUD AMI
5071139 · June 24, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
The IDA approved a Universal Tax Exemption Policy (UTEP) for housing projects and directed staff to explicitly cite HUD area-median-income (AMI) calculations in the policy language.
The Herkimer County Industrial Development Agency adopted a Universal Tax Exemption Policy for housing at its June 18 meeting and asked staff to add a specific citation that AMI be calculated using HUD figures.
Board members discussed how the UTEP would apply to sales tax, mortgage recording tax and property-tax benefits for housing…
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