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Glens Falls IDA explores letting tax-exempt benefits apply to 100% residential projects
Summary
The Glens Falls City Industrial Development Agency said on June 12 it is reviewing changes to its uniform tax exemption policy to allow projects that are entirely residential to receive IDA benefits, citing local housing shortages and similar policy updates by nearby IDAs.
The Glens Falls City Industrial Development Agency said Friday it is reviewing a change to its uniform tax exemption policy that could allow projects consisting entirely of residential or multifamily housing to qualify for IDA benefits.
The board member who introduced the item said the agency has received inquiries from developers and employers about whether tax exemptions could be used on 100% residential projects. “We are exploring changing a change to our uniform tax exemption policy, to possibly permit permits, on projects that have a 100% residential housing typically or, multifamily,” the member said.
Agency staff said no applicant has yet submitted a project under…
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