The City of Peekskill Industrial Development Agency (the "Agency"), a corporate governmental agency constituting a public benefit corporation, was created to assist the City in financing projects within the city limits that would enhance the social and economic fabric of the city. The Agency is governed by Article 18-A of the General Municipal Law of the State of New York. For more information see the Agency's Mission Statement, Organization Chart, Certificate of Establishment, Board of Directors Duties and Responsibilities and the Agency's adopted Policies and By-Laws.
The City of Peekskill Industrial Development Agency is authorized to provide qualified projects several forms of financial assistance under State law and pursuant to the Agency's "Uniform Tax Exemption Policy" including tax-exempt bond financing (project must also satisfy certain requirements under the Internal Revenue Code), taxable bond financing, mortgage recording tax exemption, sales tax exemption and a partial abatement from real property taxes. For more information, see the Agency's Application for Financial Assistance and the Agency's Agent and Financial Assistance Project Agreement.
Pursuant to the By-laws of the City of Peekskill Industrial Development Agency, and in accordance with the Public Authorities Accountabilitiy Act of 2005 and Public Authority Reform Act of 2009, there is established an Audit and Finance Committee and a Governance Committee. See PIDA Committees for additional information including Membership and Committee Charters.