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HCR drawdown delays leave small business awards pending, IDA schedules performance hearing
Summary
The IDA said Homes and Community Renewal delayed drawdown of funds for Sureprint Pack and Ship and Timeless Salon; Anelphi has submitted documentation and met hiring requirements. The program shows a remaining balance of $53,048.86 and a performance public hearing will be scheduled.
IDA staff told the board that draw requests to finish awards remain pending while Homes and Community Renewal (HCR) completes its annual report reviews.
Speaker 2 said the first draw request for Sureprint Pack and Ship and a draw for Timeless Salon have not yet been received by the IDA; HCR had assured staff those funds would be delivered to Herkimer County this week. Speaker 2 added that Anelphi has provided personal payment documentation, met the hiring requirement (moving from 5 to 6 employees) and that staff is preparing the final drawdown request for its award.
The transcript lists the program’s remaining balance as $53,048.86 and notes the agency intends to schedule a public performance hearing within the next month to complete closeout requirements. Board members discussed that much of the delay stems from HCR’s reporting season and the agency’s need to review annual performance reports before releasing funds.
Board members asked staff to continue following up with HCR and to assist awardees in gathering documentation so payments can be processed and projects closed out.
