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Putnam County IDA says it will not seek county operating allocation for 2024–25, outlines staffing plans
Summary
An Industrial Development Agency representative told the Economic Development and Energy Committee the IDA will not request a county operating allocation for 2024–25 and described recent project activity, internal capacity limits, and a proposal to subsidize an executive director role through partnership with another organization.
An Industrial Development Agency representative told the Putnam County Economic Development and Energy Committee on Sept. 23 that the IDA will not request a county operating allocation during the October 2024 budget discussions.
"I don't expect to be part of the October budget discussions because, for, this year, we will not be requesting an allocation for support," the IDA representative said, adding the agency also did not use a requested $40,000 allocation in 2023.
Why it matters: The IDA said it has steadily rebuilt its operations since 2016, closing and advancing local projects while operating with volunteer leadership and limited fees. The agency reported recent activity including project work with Ace Indico, closing a previously stagnated Fox Ridge project and the Comfort Inn Brewster Hotel (which opened days before New York State's COVID shutdown), and a 2023 expansion tied to a sales tax abatement at the Fields Corners business campus.
The IDA told the committee it now has funds in its account sufficient to support a modest office arrangement and administrative services. The speaker described existing administrative support: a part‑time bookkeeping/administrative contractor using QuickBooks Online and a compliance consultant, Terry Wabeda, who was credited with helping organize records and manage reporting.
On governance and staffing, the representative emphasized that state/legislative rules require separation between the chairman and an executive director. The IDA said it has budgeted modest amounts (the presenter mentioned about $50,000 in 2024–25) for a bona fide executive director but expressed doubt that the amount alone would attract a qualified candidate. Instead, the IDA proposed partnering with a "kindred organization" that could host and provide staff for the duties, with the IDA subsidizing the position.
The IDA also described increased reporting responsibilities over time and asked the committee and county administration for guidance on institutionalizing the agency so the current chair can step away when appropriate. The speaker said the IDA is not seeking county money at this time and indicated it could support several near-term priorities from existing funds.
Committee response: Committee members thanked the presenter for the update and praised the IDA's progress. No formal committee vote on the IDA's proposals was recorded in the transcript.
What happens next: The IDA asked the legislature and administration for support and guidance on institutionalizing operations and recruiting geographically representative volunteers; the committee did not record a formal action on the staffing proposal during this meeting.
