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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 the proposed approach. The board discussed examples from nearby jurisdictions: staff reported that the Warren County IDA and local IDAs in Albany, Schenectady and Columbia County have already made similar changes. The board said it had also consulted briefly with the state about the issue and will continue to review those neighboring policies as a model.
The discussion tied the policy review to local labor-market concerns. Board members said employers — including Glens Falls Hospital, described in the meeting as the area’s largest employer — have reported difficulties filling positions because prospective workers cannot find local housing. The board asked the Glens Falls Housing Authority to supply occupancy and wait‑list data to help gauge local need.
Board members identified administrative questions to resolve before any policy change, including whether to impose income limits on some or all units, how to monitor developer compliance with occupancy or affordability commitments, and what additional administrative costs the agency would incur to enforce any conditions. “How do you monitor that? How does that add to our expense, if you will, our administrative expense to taking that on?” one board member asked.
No formal decision was taken. The board said staff will gather examples of neighboring IDA policies, return with recommended language and costs, and meet again to consider whether to adopt a change.
The agency also noted that the city’s comprehensive plan supports mixed-use development and that more total housing units — not only low‑income units — could help relieve tight local markets by opening previously occupied units.
Board members emphasized the preliminary nature of the review and said the agency would not apply a changed policy until it had drafted compliance guidelines and assessed administrative costs.
The agency scheduled further governance‑committee review and said it would report back to the full board once it has a recommended policy draft and supporting data from the housing authority.
