ITHACA, NY (607NewsNow) – Tompkins County leaders will take a hard look at industrial development agencies (IDA) this week.

The Housing and Economic Development Committee (HED) will discuss tax abatement rules at Wednesday’s meeting.  Legislator Greg Mezey says they’ll talk about potential changes at the state level.

The discussion follows recent criticisms after a large tax-incentive package was approved for the Southworks project at the former Emerson Power site on South Hill. Some Tompkins County and Ithaca residents feel the loss of tax revenue for the Ithaca City School District will be too cumbersome on ICSD and taxpayers. Proponents of tax abatements say the projects would not move forward without them and point to the economic impact of IDA projects on the area.

Additionally, on the upcoming HED meeting agenda concerning IDAs will be a discussion about board requirements.

 

The meeting is scheduled for 3 p.m. on Wednesday, December 4, 2024, in the Legislative chambers. It will also be live streamed on the county’s YouTube page.