The Utica Industrial Development Agency, a public benefit corporation organized under the laws of New York State, was created to assist business development and to advance opportunities and the economic welfare of the people of the City of Utica. The UIDA provides financial assistance to companies leasing UIDA-owned property, including low-cost financing through sale-leasebacks or lease-leasebacks, PILOT agreements, mortgage recording tax exemptions, and sales tax exemptions.
City of Utica Industrial Development Agency
General Municipal Law § 927-d. City of Utica industrial development agency
For the benefit of the city of Utica and the inhabitants thereof, an industrial development agency, to be known as the CITY OF UTICA INDUSTRIAL DEVELOPMENT AGENCY, is hereby established for the accomplishment of any or all of the purposes specified in title one of article eighteen-A of this chapter. It shall constitute a body corporate and politic, and be perpetual in duration. It shall consist of five members who shall be appointed by the mayor of the City of Utica, and its chairman shall be designated by such mayor. It shall have the powers and duties now or hereafter conferred by title one of article eighteen-A of this chapter upon industrial development agencies. It shall organize in a manner prescribed by and be subject to the provisions of title one of article eighteen-A of this chapter. The agency, its members, officers and employees, and its operations and activities shall in all respects be governed by the provisions of title one of article eighteen-A of this chapter.
Added. L.1981, e. 710, § L
Effective Date. Section effective July 21, 1981
pursuant to L.1981, c. 710. § 2.