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Chemung County IDA approves tax exemptions, agreements for sports and entertainment project
Summary
After returning from executive session, the IDA read and approved a resolution acknowledging a 10/08/2025 public hearing and authorizing financial assistance for the sports and entertainment project, including sale and use tax exemptions and a partial real estate tax abatement structured through a tax agreement.
After reconvening from executive session, the Chemung County Industrial Development Agency read and adopted a resolution acknowledging a public hearing held Oct. 8, 2025, for the Sports & Entertainment project and authorized financial assistance for the project.
The resolution, read into the record by board leadership, made several determinations: it acknowledged the public hearing on the project, appointed the company as agent of the agency (project applicant), and authorized financial assistance in the form of sale-and-use tax exemptions for purchases and rentals related to acquisition, construction, reconstruction and equipment for the facility. The resolution also authorized a partial real-estate tax abatement to be structured through a tax agreement and authorized execution of the project agreement, lease agreement, leaseback agreement, tax agreement and related documents necessary to implement the assistance.
Board members voted by voice; the motion carried. The documents presented at the public hearing were noted as part of the record and available for review.
