Clifton Park Town Hall
Industrial Development Agency
The Mission of the Town of Clifton Park Industrial Development Agency is to identify, attract, develop, expand, and promote economically sound commerce within the Town. We assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing of industrial, manufacturing, warehousing, commercial, research facilities, and educational or cultural facilities.
Our goal is to promote Town prosperity, through the creation and advancement of a healthy business climate, supporting job creation and retention. The IDA utilizes a variety of economic development tools, financial incentive programs and resources permitted within the scope of the Public Authorities Law, building customized packages from project concept through construction and sustained operation fostering the general prosperity of the Town.
The Town of Clifton Park Industrial Development Agency exists to identify, attract, expand, and promote economically sound non-retail commerce within the Town. The goal is to promote Town prosperity, through the creation and advancement of well paying jobs, within recreational, institutional, light industrial and medical business opportunities. The IDA utilizes a variety of economic development tools, financial incentive programs and works with professional partners building packages designed to provide support from project concept through construction operation.
The successful efforts of the IDA serve to bolster Clifton Park’s well deserved reputation as a great place to Live, Work, and Play.
The Clifton Park IDA has served the community continuously since 1980.
IDA normally meets monthly – the first Monday of the month at Clifton Park Town Hall at 7:00 PM. Interested persons should call the Clifton Park Town Clerk at 371-6681 to confirm meeting schedules.
Washroom Equipment, Inc. is located at 200 Commerce Drive. Currently they are in full assessment.
Kidz Lodge is located at 47 Clifton Country Road. They are a fully New York State licensed day care center.
Plank Road Offices
The Plank Road Offices are located at 646 & 648 Plank Road. These office buildings offer spacious office rentals.
|STREET NAME||BUSINESS NAME||TERMS|
|300 Commerce Dr.||Dextrite||Full assessment in 2010|
|200 Commerce Dr.||Bobrick||Full assessment now, financing|
|900 Commerce Dr.||Steam Plant||Full assessment in 2010|
|646 Plank Rd.||Abele||Full assessment in 2009, financing|
|Rt. 146||Executive Woods||Full assessment now, financing|
|648 Plank Road||Medical||Full assessment in 2010, financing|
|15 Crossing Blvd.||Clifton Park/Halfmoon Ambulance||Exempt, financing|
|47 Clifton Country Road||Kidz Lodge||Exempt, financing|
|Clifton Country Road||Roadway||Full assessment now|
|5 Maxwell Dr.||Delmar Learning||Full assessment in 2013, financing|
What is the purpose of an IDA?
The IDA was established under New York State law to promote, develop, and assist in acquiring, constructing, reconstructing, equipping, and furnishing of qualified projects and facilities, thereby increasing the job base of the town.
What are the benefits of doing an IDA transaction?
A project may qualify for tax-exempt financing, taxable bonds or a straight lease transaction. It also may qualify for sales tax exemption, mortgage recording tax exemption and/or real estate tax abatement.
Who qualifies for tax exempt bond financing?
A manufacturing concern may qualify for a tax exempt bond or a 501C-3 organization.
Are transactions or projects prohibited?
Yes. We are prohibited from participating in transactions which are primarily retail in nature.
How are IDA Board members selected?
Members are Town of Clifton Park residents who are appointed by the Town Board for two year terms.
Are IDA Board members paid?
IDA Board members are volunteers and do not get compensated.
What is cost of IDA involvement?
Clients are charged 3/4 of one percent of project building costs.
Audit Committee Responsibilities
The Aduit Committee will consist of at least three members appointed by the Board. The Committee will provide oversight of the Agency’s financial reporting and audit process. It will make recommendations to aquire services of independent accounting expertise to perform audits. The Committee will cause to have provided to the Auditor all necessary and applicable information to assure a complete audit. The Committee can request and oversee special investigations involving financial misconduct. It will provide appropriate mechanisms to assure confidentiality of those reporting suspected fradulent activities. The Audit Committee will generally report to the Board but has the authority to interface with State authorities as necessary. The Audit Committee will meet at least twice a year and report to the Board.
All CP IDA Board Members
Rebecca D’Agati, Chair
Governanace Committee Responsibilities
The Governance Committee will consist of at least three members of the IDA and be appointed by the IDA Board. The Committee’s role is to provide guidance on best current corporate governance practices and policies. The Committee will advise the IDA Board, or those appointing IDA Board members, on desirable qualifications of IDA Board members. This shall include educational and professional experiences, along with necessary qualities and skills. The Committee will also review on a regular basis and update as necessary the Agency’s Code of Conduct, policy against ”whistleblower” retaliation, and all other written policies that govern the operation of the Agency. The Governance Committee will meet at least twice a year and report to the IDA Board.
- NYS Public Authorities Law
- Saratoga Economic Development Corp.
- Empire State Development – Build Now NY
- Southern Saratoga Chamber of Commerce
- Code of Ethics
- Defense and Indemnification of CPIDA Members
- Procurement Policy
- Receipts and Disbursements Oversight Procedure
- Uniform Tax Exemption Policy
- Whistle Blower Policy