Guest Editorial: Long Island Business News: Terzulli: IDAs are more important now than ever

Terzulli: IDAs are more important now than ever By: Opinion, Nicholas T. Terzulli, May 13, 2021 Seemingly every week detractors decry the need for Long Island’s Industrial Development Agencies (IDAs). Questioning whether the financial tax incentives IDAs provide to the business community and real estate developers is legal, proper, and necessary, these stakeholders need to


Question: What is an Industrial Development Agency in New York?

An Industrial development agency, commonly referred to as an IDA, is established under the General Municipal Law and the Public Authorities Law aimed at generating economic development in their respective jurisdictions. IDA’s are able, however not obligated, to provide assistance to projects in the form of property tax abatements, sales tax exemptions and mortgage


Does multi-family rental housing qualify for property tax incentives?

The short answer, yes.  Rental housing is much needed across the region. Providing housing is critical to spur downtown businesses, provide young workers and retirees new places to live and provides companies new housing outlets for their employees to take advantage of. Given the positive impact rental housing has on the local economy many

Go to Top