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IDA discusses county conduit bonding for large prospective investor; terms and timing remain unclear
Summary
Board members discussed a prospective large investment and the county purchasing bonds as part of a financing structure; staff said detailed bond terms and project phases remain under negotiation and a formal vote on conduit status was not recorded.
During the Herkimer County Industrial Development Agency meeting, staff described recent conversations with a large prospective investor and walked the board through preliminary bonding and conduit financing concepts.
The discussion matters because the proposed transaction would use a conduit/bonding structure in which the county would purchase bonds that help finance a property purchase for a potential large investor; that structure affects county exposure and…
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