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Montgomery Industrial Development Agency

Office Information

Town of Montgomery
F. Edward Devitt, Chairman
Edwin Williams, 1st Vice Chairman
Stephen Rainaldi, 2nd Vice Chairman
Donna Jennings, Treasurer
Rodney Winchell, Assistant Treasurer
Anthony Zambrotta, Assistant Secretary
Suzanne Hadden, Secretary

Audit Committee 
Edwin Williams
Stephen Rainaldi
Rodney Winchell

Finance Committee 
Edwin Williams
Stephen Rainaldi
F. Edward Devitt

Governance Committee
F. Edward Devitt
Edwin Williams
Stephen Rainaldi

P: (845) 457-2600 
F: (845) 457-7558

Upcoming Events
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Planning Board Work Session

Start date
Jun 06, 2018 9:00 AM
End date
Jun 06, 2018 11:00 AM

Town Board Meeting

Start date
Jun 07, 2018 7:00 PM
End date
Jun 07, 2018 7:00 PM

Village of Walden's Tenth Annual Flag Day Celebration

Start date
Jun 10, 2018 1:00 PM
End date
Jun 10, 2018 3:00 PM

Town of Montgomery I.D.A. Meeting

Start date
Jun 11, 2018 5:30 PM
End date
Jun 11, 2018 7:30 PM

Planning Board Meeting

Start date
Jun 11, 2018 7:30 PM
End date
Jun 11, 2018 8:30 PM

Zoning Board Of Appeals Meeting

Start date
Jun 18, 2018 7:00 PM
End date
Jun 18, 2018 8:00 PM

Town Board Audit/Work Session

Start date
Jun 21, 2018 6:00 PM
End date
Jun 21, 2018 8:00 PM

Planning Board Meeting

Start date
Jun 25, 2018 7:30 PM
End date
Jun 25, 2018 8:30 PM

The Town of Montgomery Industrial Development Agency is a public benefit corporation of the State of New York. A public benefit corporation is designed to promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing of civic facilities, among others, for the purpose of promoting, attracting and developing economically sound commerce and industry to advance the job opportunities, health, general prosperity and economic welfare of the people of the State of New York, to improve their prosperity and standard of living, and to prevent unemployment and economic deterioration.

The Agency undertakes projects either on its own behalf or for the benefit of an applicant. Applicant projects may be either “bond” projects (i.e., projects where the Agency grants financial assistance to a project both in the form of state and local tax abatements and in the form of proceeds of Agency debt are expended on the project) (each a “Bond Transaction”) or “straight-lease” projects (i.e., projects where the Agency grants financial assistance to a project in the form of state and local tax abatements only) (each, a “Sale/Leaseback Transaction”). 

The Town of Montgomery filed a Certificate of Establishment relating to the Agency with the Secretary of State of the State of New York on November 3, 1971. The Agency shall be comprised of seven (7) members as appointed by the Town Board of the Town of Montgomery. Each Member must be a resident of the Town of Montgomery and must file an oath of office with the Orange County Clerk.

Application Fees
$
500 - Payable upon submission of the Agency's Application for Financial Assistance/Application For Bond Financing.  The application fee is non-refundable and will be applied to reduce the amount of the Agency Administrative Fee. 

Agency Administrative Fee
3/4 of 1% of the first $2,000,000 of Total Project Costs
1/2 of 1% of the remaining Total Project Cost

The Agency reserves the right to deviate from this fee structure upon the affirmative vote of a majority of the Agency's members.