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Concord NY IDA - Financing Policies
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Before an Industrial Revenue Bond can be issued, the following requirements must be met by the company/developer:
1.
The company/developer must prove a demonstrable need for the project and the services it offers.
2.
The company/ developer must prove that the project would no be economically
feasible without the agency’s assistance.
3.
There must be no substantial disruption of existing employment of facilities of a similar nature in the area.
4.
The project will create and/or retain substantial employment and provide
substantial public investment in the area.
5.
If the project occupant is moving from another area in New York State it must be proven that the assistance is necessary to prevent the firm from moving out of New York State or to preserve the company’s competitive position in its industry.
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