Wednesday, December 07, 2016

Contact 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

(845) 457-2603

2016 Meeting Schedule

Held at Town Gov. Center @ 5:30pm 

2nd floor in meeting or worksession room

2nd Mon. every other month  

January 11, 
March 14, May 09, July 11, September 12, November 14

March 14th meeting is cancelled

August 29th Special Mtg.

September 12th meeting is cancelled

Upcoming Events

Industrial Development Agency

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.

Town of Montgomery IDA Mission Statement & By-Laws
IDA Mission Statement: Download Link
IDA By-Laws: Download Link
IDA Foil Policy: Download Link
Retaliatory Action Policy: Download Link
Code of Ethics: Download Link 
Copyright 2012, Town of Montgomery, New York