IDA Transparency and Accountability Policies
Because IDAs have a direct impact on everyone in the community, we operate in a completely open and transparent fashion. To this end, all IDA meetings, documents, programs and projects are public information and freely accessible to all parties.
Local IDAs are fully transparent and accountable for our actions. Below are some of the regulations that ensure the transparency of IDAs:
- IDA meeting notices are published in local newspapers 30 days prior to each meeting. Most IDAs hold meetings monthly on the same day and time each month. All IDA meetings are open to the public.
- All IDAs must file an annual report with the Office of the New York State Comptroller. This report is due 120 days after the calendar year ends. The report must also be filed with the New York State Department of Economic Development. It is the IDA’s responsibility to notify the majority leader of its County Legislature when it has filed the report.
- All IDA projects eligible for benefits greater than $100,000 must hold public hearings in the taxing jurisdiction for the project. The local IDA must publish a legal notice of the public hearing 30 days before the hearing date. The IDA must notify the head of the local taxing jurisdiction—County Executive, Mayor, or Supervisor and Superintendent—of the hearing.
- Each IDA must include the following information on its website (according to the Public Authorities Accountability Act): meeting minutes and agendas, public hearing notices, financial statements/budgets and adopted policies and information, such as code of ethics; organization chart; by-laws, and certificate of establishment.
To Download our Public Authority Accountability Act of 2005 (PDF) - Click Here.
