Bond
Issuance
The Troy IDA issues industrial development
bonds to private financial institutions for the
purpose of providing lower cost financing to businesses
and developers.
Sale/Lease
Back Transactions
The Troy IDA will purchase and ‘lease
back’ property to businesses or developers
for the purpose of offering sales tax exemptions
and property tax abatements.
PILOT
Agreements
Projects sponsored by the Troy IDA are exempt
from real property taxes. Companies are required
to enter into a Payment In Lieu of Tax (PILOT)
Agreement with the Authority for a percentage
of the property tax that would otherwise be due
on the property if it were not sponsored by the
Troy IDA.
Sales
Tax
The Troy IDA offers exemptions on materials purchased
during construction, and equipment.
Mortgage Recording
Tax
Troy IDA sponsored projects are exempt from New
York State’s mortgage recording tax. |
