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Middletown IDA presents project roundup; speakers highlight jobs, PILOTs and senior housing
Summary
A representative for the Middletown Industrial Development Agency summarized recent projects and incentives, describing job creation, pilot (PILOT) payments and tax-exempt bond conduit financing used for local projects including Touro University and senior affordable housing.
A representative of the Middletown Industrial Development Agency (IDA) gave a summary of recent projects and the agency's role in local economic development during the March 4 Common Council meeting.
The IDA representative described the agency as a public-benefit corporation empowered by New York State to promote economic development and listed projects the IDA has supported through PILOT (payment-in-lieu-of-taxes) agreements, sales tax exemptions during construction and conduit tax-exempt…
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