Peekskill IDA raises procurement thresholds to align with state rules

Abby (speaker 8) presented recommended updates to the agencies' procurement policy at the Aug. 26 meeting, saying the changes are intended to align local practice with state regulation. She described a three‑tiered approach: competitive bidding for purchases above $20,000, executive‑director discretion up to $4,999, and required verbal or written quotes in intermediate bands. For public works and construction services she proposed increasing the competitive‑bid threshold from $20,000 to $35,000 and raising the executive‑director discretionary threshold to $10,000.

"We are increasing that to 20,000," Abby said of the purchase threshold, and later told the board that for public works "we're increasing the threshold for competitive bidding from 20,000 to 35,000." Board members asked for the staff to double‑check the exact statutory phrasing (e.g., whether the threshold is "greater than $20,000" or "$20,000 and more"); Abby agreed to confirm the precise regulatory language and revise the policy text accordingly.

The board moved to adopt the proposed procurement policy changes and the motion was seconded. The motion passed by voice vote without a roll‑call record of individual names in the transcript. Staff will circulate the finalized text that reflects the confirmed statutory thresholds before posting.