SCIDA APPLICATION
Advancing Job Opportunities, Business + Industrial Investment in Saratoga County, New York
The Saratoga County IDA is a public benefit corporation created in 1971 to promote, develop, encourage and assist in the construction, expansion, and equipping of economically sound industrial and commercial facilities in order to advance the job opportunities, general prosperity, and economic welfare of the citizens of Saratoga County. The Agency’s primary role is to provide financial assistance and incentive to the business community in order to maximize private capital investment in the economy of Saratoga County and to develop opportunities for job creations and job retention within the County through the use of its own assets, public funds and private investment.
Please contact the Saratoga County IDA or one of our affiliated partners to determine if your project is eligible for IDA assistance.
Application Procedures:
- Completed application submitted to Agency with a check of $1,000 for application fee.
- Agency subcommittee meeting scheduled for initial project review.
- A meeting will be scheduled between project applicant and representatives of the Agency to review supporting financial data relating to the applicant and the Project.
- If the application is deemed appropriate for Agency financial assistance, a public hearing to be held in the host municipality is scheduled.
- At least 10 days prior to the public hearing, notice of the hearing is published in a suitable newspaper and notice is given by mail to the chief executive officer of each affected taxing jurisdiction.
- Following the close of the public hearing, the Agency will consider adoption of an inducement resolution which (1) grants preliminary authorization for the extension by the Agency of financial assistance for a project, (2) describes the financial assistance to be rendered, and (3) sets forth the conditions for final approval including, but not limited to, compliance by the Agency with the provisions of the new York State Environmental Quality Review Act.
- Following drafting of the necessary financing documents and prior to the issuance of bonds or closing on conventional financing, the Agency will meet to adopt a bond resolution or financing resolution.
- An administration fee will be due the agency at closing.
Saratoga County Industrial Development Agency
50 West High Street
Ballston Spa, NY 12020
(518) 884-4705
(fax) (518) 884-4780