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Montgomery Industrial Development Agency

Office Information

Town of Montgomery
F. Edward Devitt, Chairman
Edwin Williams, First Vice Chairman
Stephen Rainaldi, Second Vice Chairman
Donna Jennings, Treasurer
Richard Lomazzo, Secretary
Michael Hayes, CEO

Audit Committee 
Donna Jennings, Chairwoman 
Edwin Williams, 
Stephen Rainaldi

Finance Committee 
Richard Lomazzo, Chairman
Donna Jennings 
F. Edward Devitt

Governance Committee
Michael Hayes, Chairman
F. Edward Devitt
Richard Lomazzo

P: (845) 457-2600 
F: (845) 457-260

Upcoming Events
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Town Board Meeting

Start date
Oct 05, 2017 7:00 PM
End date
Oct 05, 2017 8:00 PM

Town Hall Closed: Columbus Day

Start date
Oct 09, 2017
End date
Oct 10, 2017

Planning Board Meeting

Start date
Oct 10, 2017 7:30 PM
End date
Oct 10, 2017 8:30 PM

TOMSIP Meeting

Start date
Oct 11, 2017 2:00 PM
End date
Oct 11, 2017 3:00 PM

Town Board Audit/Work Session

Start date
Oct 12, 2017 7:00 PM
End date
Oct 12, 2017 8:00 PM

Planning Board Meeting

Start date
Oct 30, 2017 7:30 PM
End date
Oct 30, 2017 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.