Tune into WHVW 950 AM/96.5 FM tomorrow (Fri.) 6 pm-- I'll be interviewed by JP Ferraro about this upcoming Zoom I'll be hosting with Shuman (pertinent to this fall's elections-- hell will freeze over before Sue Serino challenges business as usual corporate welfare in Dutchess-- one more reason to help elect the human Teddy Bear Tommy Zurhellen County Executive-- unafraid to challenge anything-- and ready for real change)! @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ Put Weds. Oct. 18th 8 pm Eastern time on your calendars-- to join Michael Shuman and yours truly for our Zoom forum-- on Innovative, Pro-Small-Business Economic Development-- and an End to Corporate Welfare in Dutchess County for Good(!): https://us06web.zoom.us/j/87549171608?pwd=xifyjkNaX3bxKUfjNFQV4yY4vFYFM8.1 Meeting ID: 875 4917 1608 Passcode: 734322 New FB event link: https://www.facebook.com/events/634548938811211 @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ This event will be sponsored by Working Class Dutchess-- let us know if your organization can be added as a cosponsor; you may recall a similar webinar I organized with Michael Shuman on this very topic five years ago (5/14/18)-- co-hosted by the Bard Center for Environmental Policy Director Eban Goodstein, Sustainable Hudson Valley and Melissa Everett, Re>Think Local and Scott Tillitt, Sven Thiessen and Northern Dutchess NAACP, Jen Metzger and Citizens for Local Power, and Pramilla Malick and Protect Orange County-- on innovative, new-economy ideas for Dutchess government to revitalize our county with new green jobs, helping locally owned small businesses survive and thrive! Old FB event: https://www.facebook.com/events/1477488845712353 Shuman and Doreen Tignanelli are right-- corporate welfare via the Dutchess County Industrial Development Agency and Dutchess County Local Development Corporation is wasteful-- see Doreen's research on this here: http://conta.cc/44tRu0k . @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ Nuvance just laid off 14 nurses at the Vassar Brothers Medical Center. https://midhudsonnews.com/2023/09/29/nursing-layoffs-at-vassar-draw-criticism-from-jacobson/ Nuvance laid off 102 workers at Thompson House in Rhinebeck in Mar. https://www.dailyfreeman.com/2023/03/31/northern-dutchess-hospital-parent-nuvance-to-close-thompson-house-laying-off-102-employees/ Nuvance received $99 million in tax-exempt bonds from the Dutchess County Local Development Corporation in 2019 for massive expansion. https://www.bondview.com/bond/267045ME9 https://www.abo.ny.gov/annualreports/PARISAuditReports/FYE2019/Local-LDC/DutchessCountyLocalDevelopmentCorporation2019.pdf Eight years ago former County Comptroller and Democratic Dutchess County Executive candidate Diane Jablonski was on the mark when she wrote this in the Poughkeepsie Journal about the $466 million Vassar Brothers Hospital expansion: "If Health Quest seeks funding through the Local Development Corporation (LDC) that supports tax-exempt bonding for non-profit organizations with lower interest rates, the taxpayers need to know the requirements the LDC will place upon Health Quest as a condition of providing the financing. The LDC should establish the following requirements for all bonding...Inclusion in all agreements of clawback provisions with penalties to ensure that the job creation committed to by Health Quest is achieved." https://www.poughkeepsiejournal.com/story/opinion/valley-views/2015/07/01/health-quest-proposed-expansion-raises-many-questions/29233729/ Taxpayer advocate Doreen Tignanelli of the Town of Poughkeepsie: "Regarding permanent job numbers, materials for the Dutchess County Industrial Development Agency March 22, 2023 meeting show a failure to meet DCIDA job creation and retention numbers for the three IDA projects closed in 2022: Arthur May Redevelopment, One Dutchess Phase 3 and Built Parcel 3. For the IDA, only 32% of the target for new jobs was met and only 40% of the target for job retention was met. https://www.thinkdutchess.com/clientuploads/directory/meetings_minutes/IDA/2023/2023_0322_IDA_Reg_Mtg_Packet.pdf To learn more re: Nuvance mistreatment of workers see: https://midhudsonnews.com/2022/08/03/nurses-protest-staffing-levels-at-vassar-brothers-medical-center/ To learn more re: LDC/IDA corporate welfare across NY see: https://www.osc.state.ny.us/press/releases/2022/06/dinapoli-releases-annual-ida-report https://www.osc.state.ny.us/files/local-government/publications/pdf/performance-of-idas-in-nys-2022-annual-report.pdf This type of wasteful/inefficient corporate welfare that passes for "economic development" in Dutchess is a direct result of who Molinaro/O'Neil/GOP majority in County Legislature have appointed to the boards of the Dutchess County Local Development Corporation and Industrial Development Agency; companies getting favorable consideration from county leaders have for decades now enjoyed a close pay-to-play relationship with Dutchess Republicans. https://www.thinkdutchess.com/dcldc-board-and-staff/ https://www.thinkdutchess.com/dcida-board-and-staff/ https://www.poughkeepsiejournal.com/story/news/local/2018/10/10/8-dutchess-legislators-call-molinaro-pay-play-probe/1579441002/ https://www.change.org/p/dutchess-county-executive-marcus-molinaro-molinaro-give-the-money-back-return-pay-to-play-donations-to-firms-who-got-contracts https://myemail.constantcontact.com/2-Molinaro-pay-to-play-updates---from-Albany-Times-Union-and-NY-Daily-News--when-will-media-here-in-Dutchess-start-reporting-on-.html @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ https://fiscalfairness.org https://fiscalfairness.org/wp-content/uploads/2022/05/PR_ReinInSecretiveCorporateSubsidies.pdf @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ According to a Good Jobs First report that came out this February: Dutchess County is one of only five counties outside of the NYC/Long Island region with over $10 million in foregone school revenues due to net tax abatement in 2021. "New York State public schools lost at least $1.8 billion in revenue to tax abatements in FY 2021. A substantial portion of these abatements occur when industrial development agencies (IDAs) acquire properties and lease them to private companies in exchange for payments in lieu of taxes (PILOTs). With the properties technically owned by a public agency (the IDAs), they pay no property tax. The PILOTs typically equal a small share of what property taxes would have been." https://goodjobsfirst.org/wp-content/uploads/2023/02/How-Tax-Abatements-Cost-New-York-Public-Schools.pdf ILSR ideas: https://ilsr.org/fighting-monopoly-power/small-business/ Orange County Democratic state Senator James Skoufis won't stop speaking out and pushing to reform and clean up the Orange County Industrial Development Agency-- where are the Democratic elected officials in Dutchess County when it comes to exposing/stopping the corporate welfare of the Dutchess County Industrial Development Agency and Dutchess County Local Development Corporation? https://midhudsonnews.com/2023/10/04/no-ida-tax-breaks-for-woodbury-common-expansion-says-skoufis/ Fact: Florida, Louisiana, and Alabama-- but not New York-- already require private businesses that lease property owned by industrial development agencies like the Dutchess County IDA to pay property taxes. "In New York, IDAs are allowed to acquire properties and lease them to private companies in exchange for payments in lieu of taxes (PILOTs). Because the properties are owned by a public agency, they pay no property taxes. School districts in New York get a large percentage of their funding from property taxes." https://dailygazette.com/2023/06/06/state-lawmakers-push-to-end-subsidies-for-industrial-development-agencies/ Progressive/watchdog groups urge oversight in economic development: Common Cause New York, Fiscal Policy Institute, League of Women Voters of New York State, New Yorkers for Fiscal Fairness, New York State Council of Churches, New York Public Interest Research Group, Reinvent Albany, Strong Economy for All Coalition https://nystateofpolitics.com/state-of-politics/new-york/ny-state-of-politics/2022/01/14/progressive--watchdog-groups-urge-oversight-in-economic-development @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ Michael Shuman has spoken out about this for years-- justifiably ripping into corporate welfare giveaways from county/state "development agencies" and "development corporations" across the U.S.-- scroll down for reminder of amazing/detailed research/work by Doreen re: corporate welfare in Dutchess thru Industrial Development Agency and county Local Development Corporation...to his credit, Tommy Zurhellen has often spoken about how he's pushing in his campaign for transformative change of Dutchess County government; I could be wrong-- but I strongly believe that Tommy with a new Democratic majority in the County Legislature would actually implement many of the innovative, local-investment reforms to the currently wasteful "economic development" practices in DCIDA/DCLDC-- an issue state Senator James Skoufis has really tackled head on in his part of the Hudson Valley (re: Orange County IDA waste/corruption). https://mainstreetjournal.substack.com https://michaelhshuman.com The Main Street Journal Sept. 29th Celebrate Local Investing A PLAN TO ACCELERATE LOCAL INVESTMENT We will present the following action agenda to state, county, and local officials in Maryland gathered at the “Benefit Corporation Annual Forum” on October 9, 2023. Please share the agenda with elected officials wherever you live. Locally owned businesses are responsible for 60-80% of the jobs in Maryland (depending on the definition of “local”). Compared to publicly traded companies, a large body of evidence shows that these businesses are significantly more important promoters of social equality, entrepreneurship, sustainability, smart growth, tourism, food justice, and democratic participation. Most are highly profitable and can contribute significantly to growing the state’s economy. And—yet—local businesses receive almost none of the state residents’ investment dollars. Instead, Marylanders’ long-term savings are in stocks, bonds, mutual funds, pension funds, and insurance funds that are almost entirely invested in publicly traded companies. Put another way, the state’s residents are systematically overinvesting in Wall Street securities and underinvesting in local businesses, the businesses most likely to improve state well-being. Disrupting this pattern by shifting even a small percentage of investment dollars from Wall Street to Main Street could have a huge positive impact on the state’s economic development. Accomplishing this could be done through modest and low-cost interventions. The following could be done at all levels of government: (1) Education – Educate residents about the virtues and possibilities of local investment, including the possibility of using tax-deferred savings for local investment through self-directed IRAs and solo 401ks. This could be done through economic development offices, community colleges, or grants to nonprofits. (2) Mobilization – Identify and connect “Main Street” champions throughout the state who are prepared to organize small groups focused on local investment. In Port Townsend, Washington, a community of 10,000 residents formed a group called LION (the local investment opportunity network), bringing together local investors and businesses through monthly potlucks. The result has been nearly $1 million per year of new local investment since 2007. (3) Web Listings – On every economic development resource website, post lists of local businesses currently looking for investment. This makes local investment opportunities easier to find. The Maryland Neighborhood Exchange, which has listed Baltimore businesses looking for crowdfunding investment since 2019—a project that has cost about $10,000 per year—has thus far helped 72 businesses (90% BIPOC owned) raise $3.8 million from 9,700 investors. (4) Technical Assistance – Deploy experts in crowdfunding who can help coach local businesses on how to use the tool successfully. Today’s average successful investment crowdfunding business raises nearly $400,000—and yet it’s almost impossible to find any small-business support organization in Maryland with this expertise. (5) Investment Funds – Create targeted investment funds for different priorities, such as local food, renewable energy, affordable housing, or small-scale manufacturing. Funds facilitate more investment by providing investors with diversification, liquidity, and professional management. Under an existing exemption in the Investment Company Act, a governmental jurisdiction might run the fund (or underwrite the fund’s operation), but most (or all) investment dollars can and should come from grassroots investors. They should be open to investment from non-accredited investors. (6) Municipal Bonds – Issue municipal bonds to help seed investment funds. The largest community land trust in the country, in Burlington, Vermont, which provides affordable housing to several thousand families, was started by a municipal bond issued by Mayor Bernie Sanders in the 1980s. Most municipal bonds, however, are issued globally through investment banks. A better approach is to issue them in small denominations for local purchase. Connecticut recently issued $25 million of “micro-bonds” like this to support solar energy expansion—and it was bought out in 48 hours. (7) State Networks – One way of lowering the legal costs of creating and administering funds and bond issues would be for the state to take the lead in raising capital, and counties or municipalities could then take the lead in awarding it. (8) Tax Credit – Enacting a modest tax credit can help nudge residents to pay closer attention to local investment opportunities—effectively priming the pump. Michigan is preparing to pass a 50% income tax credit (up to $3,000 per resident), and there is no reason Maryland couldn’t do the same. The costs to the state, by the way, would be modest. Nova Scotia calculated that its tax credit for local investment funds generated jobs at a cost of about $500 per job. In contrast, Maryland’s bid for Amazon’s new HQ would have cost more than $500,000 per job. (9) Local Banking – Shift governmental banking services to local banks and credit unions to boost support for local businesses. The probability of a dollar put on deposit in a local banking institution going into a local business is three times greater than a dollar deposited in a large interstate bank. Phoenix and Tucson have shown how to overcome the objection that smaller banking institutions cannot handle large clients. (10) Public Banking – Create a public bank. The state of North Dakota has made more than $1 billion over the past century through its public bank. By depositing yet-to-be-expended public funds collected from taxpayers and the federal government in local banks and credit unions rather than global securities, North Dakota lowers costs, increases earnings, and supports local businesses. (11) Trading Portals – The federal JOBS Act, which legalized investment crowdfunding, allows anyone to run a trading platform and charge a success fee (essential for successfully running the platform as a business). States like Maryland foolishly only allow broker-dealers to do this, which has effectively meant—no one is doing this. Maryland should create a pathway identical to the feds for residents to develop a platform that facilitates the trading of intra-state securities. This would help to greatly increase the use of Maryland’s $100 exemption (which was sponsored by Delegate Lorig Charkoudian). (12) Discussion Groups – The SEC recently announced Rules 206 and 241, which permit small businesses to enter public “testing the waters” conversations with investors. All kinds of investment options, public and private, could be discussed. The problem is that the SEC did not preempt state laws that mainly prohibit such conversations. Maryland should harmonize its laws with these rules to facilitate more discussions of local investment. These proposals have the following characteristics: They are all high impact and low (or no) cost. They provide mechanisms for the government to achieve more without raising taxes. They are inexcusably absent from nearly all economic development activities in the state. While most of these items could be done at all levels of government—local, county, and state—some make more sense at a certain level. For example, there’s a strong case that the state should create a tax credit, develop a statewide platform for small-bond issues, promote local and public banking, and legalize intrastate trading platforms. Montgomery County might open its Green Bank to local grassroots investors. And there’s a strong case for education, mobilization, and technical assistance to be done in local economic development offices. But the strongest case is to do as many of these as possible at every level possible. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ Michael H. Shuman is an economist, attorney, author, and entrepreneur, and a leading visionary on community economics. He’s Director of Local Economy Programs for Neighborhood Associates Corporation, and an Adjunct Professor at Bard Business School in New York City. He is also a Senior Researcher for Council Fire and Local Analytics, where he performed economic-development analyses for states, local governments, and businesses around North America. He is credited with being one of the architects of the 2012 JOBS Act and dozens of state laws overhauling securities regulation of crowdfunding. He has authored, coauthored, or edited ten books. His three most recent books are Put Your Money Where Your Life Is: How to Invest Locally Using Solo 401ks and Self-Directed IRAs; The Local Economy Solution: How Innovative, Self-Financing Pollinator Enterprises Can Grow Jobs and Prosperity; and Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street. One of his previous books, The Small Mart Revolution: How Local Businesses Are Beating the Global Competition (Berrett-Koehler, 2006), received as bronze prize from the Independent Publishers Association for best business book of 2006. A prolific speaker, Shuman has given an average of more than one invited talk per week, mostly to local governments and universities, for the past 30 years in nearly every U.S. state and more than a dozen countries. Recall-- 150+ local small businesses and others signed on to my New Economy Jobs Petition for Dutchess here (still current here and now in 2023-- as ruling GOP majority in county government have essentially refused to implement all of these): https://www.change.org/p/dutchess-county-executive-marcus-molinaro-revitalize-dutchess-with-new-economy-pro-small-business-innovative-strategies-new-jobs Click here for the 2008 Northern Dutchess Alliance Blueprint for Economic Development-- co-authored by Michael Shuman, Melissa Everett of Sustainable Hudson Valley, and Ann Davis of Marist College(!): https://cab32f01-7260-41a2-a7d2-e8e5798b57d8.filesusr.com/ugd/d67794_cd3a0902fc3649528a2a3b866255b14a.pdf = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = [I sent this letter below 4/15/18 to my 24 former colleagues in the Dutchess County Legislature pls email countylegislators@dutchessny.gov-- kudos as always to Co. Leg. Giancarlo Llaverias for even back then agreeing to co-sponsor this resolution I drafted/submitted, inspired by Shuman's work here!] - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - From: Joel Tyner To: countylegislators@dutchessny.gov Subject: Colleagues-- new resolution here re: Michael Shuman's willingness to work with us to revitalize our local economy-- pls call Co. Leg. office to co-sponsor if you agree...Joel Date: Apr 15, 2018 7:43 PM [for more info on all this see: http://michaelhshuman.com ] - - - - - - - - - - - - - - - - - - - - - - - - - - - - FOR DUTCHESS COUNTY TO WORK WITH NATIONALLY KNOWN LOCAL-ECONOMY, PRO-SMALL-BUSINESS, PRO-FAMILY-FARM EXPERT MICHAEL SHUMAN TO ORGANIZE A SERIES OF PUBLIC FORUMS ON INNOVATIVE NEW-ECONOMY POSSIBILITIES LOCALLY WHEREAS, in 2008, nationally known local-economy expert Michael Shuman (along with Ann Davis of Marist College and Melissa Everett of the Northern Dutchess Alliance) prepared a “Blueprint for Economic Development: Business Strategies and opportunities for a Healthy Northern Dutchess Economy”, and WHEREAS, much has happened in the world of local economic development in the decade since, and Michael Shuman is very much interested in working with us here in Dutchess County to update us on the state of the art in local economic development strategy innovation, and WHEREAS, Michael Shuman has authored four books on local-economy innovation-- "Going Local: Creating Self-Reliant Communities in a Global Age" (Free Press, 1998); "The Small-Mart Revolution: How Local Businesses Are Beating the Global Competition" (Berrett-Koehler, 2006); "Local Dollars, Local Sense" (Chelsea Green, 2012); "The Local Economy Solution: How Innovative, Self-Financing Pollinator Enterprises Can Grow Jobs and Prosperity" (Chelsea Green, 2015), and WHEREAS, Michael Shuman is a nationally known expert on new options for mobilizing local capital through reformed securities laws, new options for import substitution through anchor institution purchasing, new ideas for how to increase public procurement from local business and save money, new ways to promote local economic development through B Corps and higher social standards, and innovations in rural economic development that prioritizes family farms instead of agribusiness and small business instead of corporations, and WHEREAS, the Business Alliance for Local Living Economies (BALLE) was created in 2001 and the articulation of a new approach rooted in businesses that are “LOIS”-- locally owned and import-substituting; other organizations began promoting similar approaches, including Main Street, the American Independent Business Alliance (AMIBA), the Economic Gardening Forum, the Association for Enterprise Opportunity (AEO), and Transition Towns, and WHEREAS, the basic ideas of LOIS are simple: local ownership means that working control of a company is held within a small geographic area; import-substituting means that the company is focused first and foremost (though not exclusively) on cost-effective production for local markets; while the vast majority of LOIS businesses are small, some actually grow to be quite large and powerful, and WHEREAS, the case for promoting local ownership has been deepened by empirical evidence that regions with higher densities of local business have superior economic performance; for example, locally owned businesses generally contribute more to the “economic multiplier” than do absentee owned businesses; more than two dozen studies over the past decade have compared the economic impacts of locally owned businesses with their nonlocal equivalents, and they consistently show that local businesses generate two to four times the multiplier benefits; that means that every dollar that moves from a nonlocal to a local business in a community generates two to four times the income boost, two to four times the jobs, two to four times the local taxes, and two to four times the charitable contributions, and WHEREAS, a 2010 study appeared in the Harvard Business Review under the headline “More Small Firms Means More Jobs" the authors wrote, “Our research shows that regional economic growth is highly correlated with the presence of many small, entrepreneurial employers—not a few big ones”; the authors further argued that the major preoccupation of economic developers – how to attract global companies – is fundamentally wrong-headed; “Politicians enjoy announcing a big company’s arrival because people tend to think that will mean lots of job openings. But in a rapidly evolving economy, politicians are all too likely to guess wrong about which industries are worth attracting. What’s more, large corporations often generate little employment growth even if they are doing well,” and WHEREAS, another study published shortly thereafter in the Economic Development Quarterly, a journal long supportive of business attraction practices, similarly found that “Economic growth models that control for other relevant factors reveal a positive relationship between density of locally owned firms and per capita income growth, but only for small (10-99 employees) firms, whereas the density of large (more than 500 workers) firms not owned locally has a negative effect,” and WHEREAS, a paper published in 2013 by the Federal Reserve in Atlanta, which performed a regression analysis of counties across the United States, found statistically significant “evidence that local entrepreneurship matters for local economic performance; the percent of employment provided by resident, or locally-owned, business establishments has a significant positive effect on county income and employment growth and a significant and negative effect on poverty," and WHEREAS, numerous studies in recent years suggest that local ownership (the LO in LOIS) enables businesses to contribute more to economic development than do global businesses attracted; local ownership matters in at least five ways: 1. Higher Multipliers – Locally owned businesses generally contribute more to the “economic multiplier” than do absentee owned businesses. More than two dozen studies over the past decade have compared the economic impacts of locally owned businesses with their nonlocal equivalents, and they consistently show that local businesses generate two to four times the multiplier benefits. That means that every dollar that moves from a nonlocal to a local business in a community generates two to four times the income boost, two to four times the jobs, two to four times the local taxes, and two to four times the charitable contributions. 2. More Reliable – While absentee-owned businesses increasingly consider moving to Mexico, China, or low-wage U.S. states, with only secondary concern for throwing the community into an economic tailspin, businesses anchored locally produce wealth more reliably for many years, often for many generations. This means that economic-development investments in local business have greater payoffs. 3. Higher Standards – Because local businesses tend to stay put, a community with primarily local businesses can raise labor and environmental standards with confidence that its businesses will adapt rather than flee. 4. More Dynamic – A community made up of smaller, locally owned businesses is better equipped to promote smart growth and walkable communities, draw tourists through unique stores and attractions, retain talented young people who seek entrepreneurial opportunities and a distinct sense of place, and reduce the noise, fumes, and risks of traffic. 5. Better Social Impacts – Compared to economies dependent on absentee-owned enterprises, local-business economies tend to have more social stability, lower levels of welfare, and greater political participation, and therefore be it RESOLVED, that the Dutchess County Legislature requests that the Think Dutchess Alliance for Business and Dutchess County Department of Planning and Development work with nationally known local-economy expert Michael Shuman to bring his knowledge to bear once more here in Dutchess to help local small businesses, Microenterprise, budding entrepreneurs, and small family farms revitalize our economy here in Dutchess County, and be it further RESOLVED, that a copy of this resolution be sent to the Think Dutchess Alliance for Business and Dutchess County Department of Planning and Development ##################################### [recall info here below re: corporate welfare Dutchess-style-- sent out to this list Aug. 27th] From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie: DCIDA approves nearly $1 million per job tax subsidy for Bellefield Phase II project in Hyde Park On August 25, 2023, the Dutchess County IDA approved nearly $151 million in tax exemptions to create 154 jobs for Phase II of the Bellefield project in Hyde Park. Therefore, the per job subsidy is nearly $1 million that will be footed by Dutchess County taxpayers. The deal included a 20-year PILOT, payment in lieu of taxes. A public hearing was held with written comments submitted by myself and by Jim Beretta, both against granting of Financial Assistance. There was one member of the public that spoke in person, Marta Knapp, who also was against the assistance. In my opinion, these hearings are really nothing more than a formality as the DCIDA is a rubber-stamp board. In the nearly four years that I have been attending DCIDA/LDC meetings, the DCIDA has never failed to grant Final Approval for Financial Assistance for projects. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ https://midhudsonnews.com/2023/08/25/bellefield-phase-2-secures-ida-financial-incentives/ @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ click here for some of Doreen's previous work re: DCIDA/DCLDC issues: https://myemail.constantcontact.com/more-corp--welfare-from-Marcus---co---you-decide.html?soid=1121263824363&aid=a8UDzqTZ-rI @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ email: countyexec@dutchessny.gov, countylegislators@dutchessny.gov @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ [reminder-- this is an election year, peeps-- if you know a Dutchess Democratic candidate for county legislator (or county executive)-- gently remind/fwd them this email with a suggestion that it might behoove them to join Doreen, Marta, and Jim in their lonely quest to expose and fight such egregious corporate welfare and waste of county tax dollars(!)] @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ https://midhudsonnews.com/2020/05/08/letter-to-the-editor-tax-breaks-unwarranted/ Letter to the Editor: Tax Breaks Unwarranted May 8, 2020 At the May 6, 2020, Poughkeepsie Town Board meeting held via ZOOM, a developer promoting his project told the Board he needed a 15-year tax break due to rapidly increasing construction costs. He attributed this to the fact that construction workers would rather stay home on unemployment than come back to the job. No evidence to support that claim was provided. He also cited a supply chain breakdown, noting it was unclear if that would correct itself over a short or long period of time. The developer was from Reynolds Asset Management of Hohokus, New Jersey and the project was listed on the agenda as “Dalia 55+ Project on Violet Avenue”. So, the developer wants a long-term tax break, known as a Payment In Lieu of Taxes (PILOT), for a supposed problem that could correct itself in the short-term. The Dutchess County Industrial Development Agency (DCIDA) would be the agency to approve the PILOT and, in all likelihood, will. This means that other county, town and school district taxpayers will pick up the tab for the developer’s tax break, likely resulting in higher profits for him. Some of those taxpayers may be construction workers, the very group he disparaged These days, it seems as if every proposed project is asking for a PILOT, claiming the project would not otherwise be economically feasible. For example, Vassar College, even though it has an endowment worth more than $1 billion dollars, recently received preliminary approval from the DCIDA for a PILOT and a Sales Tax exemption for their proposed inn/conference center, again at the expense of taxpayers. Doreen A. Tignanelli Poughkeepsie NY ############################################## [and on that note-- recall below sent out 5/1 to this list re: DCIDA/DCLDC] From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie: DCIDA/LDC: failures in majority of permanent job numbers per 2022 Outcomes Reports Regarding permanent job numbers, materials for the DCIDA March 22, 2023 meeting show a failure to meet DCIDA job creation and retention numbers for the three IDA projects closed in 2022: Arthur May Redevelopment, One Dutchess Phase 3 and Built Parcel 3. For the IDA, only 32% of the target for new jobs was met and only 40% of the target for job retention was met. Materials also show a failure in DCLDC job creation number for two LDC projects: bonds for Marist and the CIA 2022. For the LDC, 0% of its target for new jobs was met. For job retention, 284% is stated although it seems a stretch, as if Marist and the Culinary Institute were going to up and move 1,420 FTEs (full-time equivalent jobs) elsewhere if it weren't for the LDC bonds. See Pages 134 & 135 of materials packet here https://www.thinkdutchess.com/clientuploads/directory/meetings_minutes/IDA/2023/2023_0322_IDA_Reg_Mtg_Packet.pdf The Mirbeau Inn & Spa Beacon project is on the agenda for Wednesday, March 22, 2023 at 8 a.m. for the DCIDA to rubber-stamp its Preliminary Approval of the project. The meeting will be held in person and via Zoom. Meeting info can be found here: https://www.thinkdutchess.com/clientuploads/directory/meetings_minutes/IDA/2023/2023_0322_IDA_Reg_Mtg-Notice_&_Agenda.pdf Mirbeau Companies owns four other locations, including Mirbeau Inn & Spa Rhinebeck with its room prices ranging from around $410 to $730 a night. According to application materials, the company was not previously provided assistance by the DCIDA. Mirbeau Beacon is seeking millions of dollars in "Financial Assistance" for their luxury project in the form of Sales Tax Exemption, Mortgage Tax Exemption and Payment in Lieu of Taxes (PILOT). As is usually the case, the applicant is stating that the project will not go forward without Financial Assistance from the DCIDA. While the DCIDA board members justify approvals by saying that tax revenues will increase upon project completion, they never say what the tax revenue would be if the applicants paid their taxes in full. Applicants seek financial assistance in the form of tax breaks that shift the tax burden to the remaining base which may lead to higher tax bills for other property owners while maximizing profits of the developers. Amazon cited for OSHA violations including New Windsor warehouse Amazon has received tens of millions of dollars in tax exemptions from the Dutchess County Industrial Development Agency (DCIDA) for the construction of a warehouse in East Fishkill which is troubling in light of hazardous working conditions found at various Amazon sites. Per recent media reports, Amazon was cited for "improper record keeping of work-related injuries and illness" according to a December 2022 release by OSHA. They were also cited for "failing to keep workers safe, exposed to additional hazards and concerns." The Amazon warehouse in New Windsor was included in the citations, see https://www.timeshudsonvalley.com/stories/amazon-warehouse-cited-in-osha-investigation,62981 It is also being reported that federal inspectors issued a second set of citations against three other warehouses for putting workers at risk of serious injury, see Another black mark for Amazon in two of their New York warehouses, this time for threats made, see https://www.cnbc.com/2023/02/01/amazon-cited-by-osha-again-over-warehouse-injuries.html https://money.usnews.com/investing/news/articles/2023-01-31/amazon-illegally-threatened-nyc-workers-ahead-of-union-votes-judge-finds @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ https://www.recordonline.com/story/news/2023/02/22/orange-county-ida-tax-breaks-under-state-senators-investigation/69927471007/ https://westchester.news12.com/state-sen-james-skoufis-announces-plan-for-orange-county-ida-monitor @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ https://midhudsonnews.com/2023/05/01/skoufis-plan-for-orange-county-ida-monitor-included-in-state-budget/ [click on link above for video of Skoufis on this] Skoufis plan for Orange County IDA monitor included in state budget May 1, 2023 CORNWALL – A proposal to create a state monitor to oversee the Orange County Industrial Development Agency is included in the state budget, Senator James Skoufis (D, Cornwall) said Monday. He proposed the plan months ago because of what he said is mismanagement by the agency “This Orange County IDA is so far off the rails you can’t even see the rails anymore,” he said. “They have no respect whatsoever for taxpayers. They cut bad deals after bad deals.” Skoufis cited one recent incentive package for Royal Wines in Goshen, which he said would provide a per job subsidy amounting to $580,000. “Either the Orange County IDA are the worst negotiators on the face of the planet, or they simply don’t care about taxpayers,” the Democratic lawmaker said. The senator said the monitor would give the taxpayers a voice and hold the IDA accountable. Under the soon-to-be approved measure, the state inspector general’s office would oversee the monitor, the plan would sunset after three years unless the legislature opts to continue it and the IDA would be responsible for paying for the new fulltime position. The Republican-controlled Orange County Legislature has gone on record opposed to the monitor. ############################# From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie: Thompson House in Rhinbeck is closing! Options for long-term care in Dutchess County were not good before and now Thompson House, a 100 room long-term and rehab facility at Northern Dutchess Hospital is closing! Nuvance Health is the owner/operator of Thompson House: https://www.hvpilot.com/news/the-thompson-house-care-facility-set-to-close/article_c67f5f18-cf60-11ed-87de-63510fa27331.html You may recall a September 14, 2022 PoJo article "Hospital executives pocketed $73M in bonuses while COVID raged" included Nuvance in the list of executives with bonuses of $1 million-plus. Nuvance Health has also benefited from upwards of $99 million worth of bonds issued by the Dutchess County Local Development Corporation. [ed.-- https://www.bondview.com/bond/267045ME9-- also p. 4 of this document: https://www.abo.ny.gov/annualreports/PARISAuditReports/FYE2019/Local-LDC/DutchessCountyLocalDevelopmentCorporation2019.pdf ] ###################################### [recall below sent out on this Aug. 4th last year] @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie FYI: Nurses protest staffing levels at Vassar Brothers Medical Center Nuvance sought, and received, issuance of up to $130 million (they got over $99 million) in tax-exempt bonds from the Dutchess County Local Development Corporation (DCLDC) in 2019. DCLDC Chairman Timothy Dean also is on the Board of Directors of Vassar Brothers Medical Center. This conflict was noted in meeting minutes and Dean recused himself from that portion of the meeting, see https://thinkdutchess.com/wp-content/uploads/2019/09/2019-0717-LDC-Board-Minutes-Reg-Approved-Signed-with-Financials.pdf According to their website, "The mission of the DCLDC is to increase employment". That does not appear to be the case with Nuvance and its nursing staff. In 2015, former county comptroller Diane Jablonski raised questions regarding HealthQuest bonding for Vassar Brothers and the DCLDC when it came to labor agreements and employment numbers, see https://www.poughkeepsiejournal.com/story/opinion/valley-views/2015/07/01/health-quest-proposed-expansion-raises-many-questions/29233729/ https://midhudsonnews.com/2022/08/03/nurses-protest-staffing-levels-at-vassar-brothers-medical-center/ Nurses protest staffing levels at Vassar Brothers Medical Center August 3, 2022 POUGHKEEPSIE – Hundreds of nurses were joined by other hospital staff and local leaders at an informational picket in front of Vassar Brothers Medical Center (VBMC) in Poughkeepsie on Tuesday. The nurses held the protest to bring awareness to staffing issues at the hospital. There are more than 800 nurses employed at VBMC that are members of the New York State Nurses Association (NYSNA) union. They have been working under an expired contract while negotiating with Nuvance, the parent company of VBMC since the beginning of this year. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ https://www.osc.state.ny.us/press/releases/2022/06/dinapoli-releases-annual-ida-report DiNapoli Releases Annual IDA Report Net Tax Exemptions Doubled Over Past Decade to $966 Million; Jobs Gained During 2020 COVID Year Were Smallest in Past Decade June 17, 2022 New York's local Industrial Development Agencies (IDAs) reported 4,262 active projects with a total value of $114 billion in 2020, an increase of $5.3 billion from the prior year, according to an annual report on IDAs released by State Comptroller Thomas P. DiNapoli. While reported project values have risen, the number of projects has decreased by 58, or 1.3%, since 2019. This continues a long-term trend, where project values have increased by 57% and the number of projects has declined by 4% since 2010. “This report gives taxpayers a clear look at the financial and project data as reported by IDAs for their communities,” DiNapoli said. “IDAs can play an important role in helping local economies and businesses expand and recover after the pandemic. The tax breaks they provide do impact local taxes and should be looked at closely. Publishing this information, including IDA costs, increases their transparency and accountability to taxpayers.” DiNapoli’s report also found IDAs reported the following: For the 4,262 active IDA projects, it was estimated that a total of 225,227 jobs would be created during the life of the projects, with a median salary of $40,000, and 251,888 existing jobs would be retained, with a median salary of $44,727. A projected 44,636 temporary construction jobs would be created. The number of net jobs gained (reflecting current jobs reported by projects minus initial jobs reported) were 167,984 in 2020. This is the smallest number of jobs gained in the last ten years. Total tax exemptions for IDA projects amounted to over $1.7 billion, up $273 million, or 19%, over 2019. Property tax exemptions represented $1.6 billion, or 90% of total tax exemptions, and were partially offset by $782 million in payments in lieu of taxes (PILOTs) in 2020. Net tax exemptions (reflecting total tax exemptions minus PILOTs) totaled $966 million, an increase of $171 million, or 21%, from 2019. Over the ten-year period ending in 2020, net tax exemptions just about doubled. Regionally, total net tax exemptions granted were much higher downstate, with IDAs in New York City, Long Island and the Mid-Hudson regions together granting 61% of all net tax exemptions. On a per capita basis, the New York City IDA provides the lowest net tax exemptions per capita ($22), while the Capital District had the highest ($93) in 2020. In 2020, IDAs had total revenues of $72 million, consisting largely of project fees, a decline of $3.6 million from 2019. New York City IDA had the highest total revenues ($6.7 million), followed by Genesee County IDA ($5.7 million), Chautauqua County IDA ($4.8 million) and Chemung County IDA ($4 million). Total IDA expenses in 2020 were $85 million, down $11.8 million from 2019. The largest operating expense category was professional services contracts, such as for accounting, legal or marketing services ($22.2 million, or 26%, of the total). Salaries, wages and benefits for IDA employees accounted for $19.2 million, or 23%, of the total. New York City’s IDA had the highest expenses ($8.6 million). The largest new IDA project in 2020 by project value ($2.4 billion) was the New York City IDA’s BOP SE LLC project, which is constructing Two Manhattan West, a commercial office tower that is part of the Hudson Yards development. The report summarizes data as reported by IDAs for fiscal year 2020 through the Public Authorities Reporting Information System, and is not independently verified by the State Comptroller’s Office. Three IDAs did not submit their data in time for this report. The report also contains information on Local Development Corporations, a related type of local authority. DiNapoli’s office examines IDA costs and outcomes in several ways, including performing audits of the operations of individual IDAs, providing training to IDA officials on various topics, and encouraging improvements in IDA procedures and reporting. Annual Report Performance of Industrial Development Agencies in New York State IDA Data by Region Office of the New York State Comptroller - 2020 IDA Data by Region Track state and local government spending at Open Book New York. Under State Comptroller DiNapoli’s open data initiative, search millions of state and local government financial records, track state contracts, and find commonly requested data. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ [recall below sent out Dec. 13th] "The DCIDA is set to give away millions more in corporate welfare at their Wednesday, December 14, 2022 meeting, see https://thinkdutchess.com/wp-content/uploads/2022/12/2022-1214-IDA-Reg-Mtg-Notice-Agenda.pdf Agenda Item 9D, the proposed CANAM Hudson Valley Logistics LLC warehouse/distribution center in East Fishkill is set to receive around $16 million in sales tax exemptions, mortgage tax exemptions and a PILOT (Payment in Lieu of Taxes). CANAM application materials stated no prior DCIDA assistance has been given. However, there appears to be a connection with the Amazon warehouse project, also in East Fishkill, that received tens of millions in DCIDA financial assistance. According to application materials for both projects, CANAM Hudson Valley Logistics and USEF Tioranda/Amazon project have a connection to Bluewater, with the CANAM application identifying Bluewater as "a secondary investor". Speaking of the Amazon warehouse, Agenda Item 9C is for a time extension of the project completion date to December 31, 2023. There have been media reports that Amazon has scrapped or delayed warehouse projects across the nation, see https://www.freightwaves.com/news/amazon-cancels-or-delays-plans-for-at-least-16-warehouses-this-year The public can attend the DCIDA Mtg on Wednesday, December 14, 2022 at 8am in person at 3 Neptune Road, Suite A21, in the Town of Poughkeepsie or by logging into the Zoom Platform at https://us06web.zoom.us/j/89196033945#success https://us06web.zoom.us/j/89196033945 or calling 1-929-436-2866 Meeting ID: 891 9603 3945." @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ [recall below] From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie: Companies should be paying their full share of taxes. What County Executive Molinaro fails to note in his budget message below is the tens of millions of dollars given away to companies like Frito-Lay and Amazon by the Dutchess County IDA. Taxpayers should not be subsidizing the profits of companies like PepsiCo, the parent company of Frito-Lay, whose worth is over $200 billion. Tax breaks given to these companies shift the tax burden to the remaining base. Dutchess County’s tax base has grown to nearly $40 billion thanks to continued focus on economic development and job growth, evidenced by the County’s commercial vacancy rate in Dutchess County remaining the lowest in the region as Dutchess attracts new investment from companies from Amazon and Pepsi Frito Lay among others. https://www.dutchessny.gov/Departments/County-Executive/2023-Budget-Continues-Tax-Relief.htm https://www.dailyfreeman.com/2022/11/01/dutchess-county-executive-unveils-560m-budget/ ##################################### [recall below] From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie: DCIDA treats themselves to Awards Dinner at the Culinary Institute, saying "it's in the budget" At their October 19, 2022 meeting, the DCIDA decided to purchase a table for DCIDA members, some staff and "special guests" to attend the Think Dutchess Business Excellence Awards dinner at the Culinary Institute of America on October 27th. The invited "special guests" appear to include not one but two DCIDA attorneys, the father-daughter team of Donald and Elizabeth Cappillino. The total number of table attendees was never mentioned, nor was the cost. CEO Sarah Lee said no vote was needed with Kathy Bauer, DCIDA board member and finance/audit committee member, concurring saying "it's in the budget". The Grand Award winner is none other than Kirchhoff Companies. Over the past several years, the DCIDA has awarded tens of millions of dollars in tax exemptions to Kirchhoff for the Eastdale Village project on Route 44 in the Town of Poughkeepsie. The Large Business Award of the Year is going to Arnoff Moving & Storage where DCIDA Board member and County Legislature Don Sagliano is Vice-President and CFO. There seems to be a lack of checks and balances. Doreen Tignanelli ################################## [recall below sent out late last Tues. night] From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie No end to DCIDA's corporate welfare leaving other taxpayers to pay There is no end to Dutchess County Industrial Development Agency's granting of corporate welfare. At the meeting scheduled for October 19, 2022 meeting, the DCIDA is poised to approve exemptions for CANAM Hudson Valley Logistics Owner LLC to build a warehouse in East Fishkill, on the former IBM site, in close proximity to the Amazon warehouse that was previously granted millions in tax exemptions by the DCIDA. Also involved with CANAM project is USEF/Tioranda LLC, a player in the Amazon project. CANAM is seeking Sales and Use Tax Exemption, Mortgage Recording Tax Exemption, Real Property Tax Exemption, Payment in Lieu of Taxes (PILOT). While DCIDA members fume when the point is made that other taxpayers often pay the price for exemptions granted to these companies, the New York State Comptroller seems to agree. In the Comptroller's 2022 Annual Report of 'Performance of Industrial Development Agencies In New York State', they state "However, the tax exemptions they grant to their projects can reduce the tax base of local governments and school districts, and may result in increases to other taxpayers’ bills." Agenda and materials, including Zoom link, for the Wednesday, 8 am, October 19, 2022 DCIDA meeting can be found at https://thinkdutchess.com/wp-content/uploads/2022/10/2022-1019-IDA-Reg-Mtg-Packet.pdf https://thinkdutchess.com/wp-content/uploads/2022/10/2022-1019-LDC-Reg-Mtg-Packet-Revised.pdf DCIDA/LDC CEO wants benefits increase, on mtg agenda for Oct 19 The DCLDC will also likely approve, as that is all they know how to do, a request by DCIDA/LDC CEO Sarah Lee's request to increase employee benefits. Currently, employees receive $16,000 in non-wage compensation in addition to their salaries. They have to use it for health insurance and/or retirement plan. If they use it for retirement plan, there are some limits in place. Lee says the current allowance of $16,000 is "helpful " but not enough so she is asking board members to increase it to $24,000 and to remove current restrictions. Sarah Lee herself has a salary of $125,000 plus the current $16,000 in benefits. For 2022, she received a 7.75% salary increase of $9,000. Apparently, she feels that is not enough. Just to be clear, CEO Lee is asking for benefits increase to $24,000 and, if they use it for their retirement plan, she is asking the board to remove the current restriction to the retirement contribution to match the federal contribution limit. A 33% increase is outrageous. ############################################################## [recall below sent out Sept. 19th] From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie DCLDC agenda item to increase employee benefits , CEO already received 7.75% salary increase in 2022 https://thinkdutchess.com/wp-content/uploads/2022/09/2022-0921-LDC-Reg-Mtg-Packet.pdf According to the DCLDC meeting packet for Sept 21, 2022, its CEO Sarah Lee is asking for an increase in benefits for employees. Currently, they get $18,000 in non-wage compensation in addition to their salaries. They have to use it for health insurance and/or retirement plan. If they use it for retirement plan, there are some limits in place. Lee says the current allowance of $18,000 is "helpful" but not enough. She is asking them to "increase the fringe benefit amount to $24,000 and to remove the current restriction to the retirement contribution to match the federal contribution limit." Sarah Lee herself has a salary of $125,000 plus $18,000 in benefits. For 2022, she got a 7.75% salary increase of $9,000. Apparently, she feels that is not enough. There is no reason to believe that the board will not approve the CEO's request. Speaking of worker wages and benefits, the DCIDA/LDC Vice-Chair, Mark Doyle, is farm manager at Fishkill Farms and he opposes proposed change to overtime threshold for NYS farm workers from 60 hours weekly to 40 hours, making more workers eligible for overtime pay. So, in his DCIDA/LDC role, Doyle is okay with giving tens of millions of dollars in tax breaks for corporate welfare projects like the Amazon warehouse in East Fishkill but as farm manager, he is against workers receiving overtime pay after 40 hours of hard labor. Doreen Tignanelli "Information is the oxygen in which the fire of democracy burns. If you have information, it burns, if you don't, it chokes". D. DeBar ######################################################################################################################################################################################### ------------[recall below originally sent out to this list Aug. 29th] ------------- y'all may recall how Doreen led us all to big recent win stopping Molinaro corp. welfare for CHPE-- let's do it again: https://conta.cc/3IwsDzQ @@@@@@@@@@@@@@@@@@@@@@@@@@@@ From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie: 9:52 AM (7 hours ago) DCIDA, more corporate welfare, East Fishkill CANAM/Hudson Valley Logistics distribution center The Dutchess County IDA is at it again, poised to give tens of millions in tax breaks, including Payment in Lieu of Taxes ( PILOT), for another warehouse and logistics center on the former IBM site in East Fishkill. The applicant is seeking same PILOT as given to Amazon although they are only guaranteeing 100 jobs vs. Amazon's 500 jobs. Video of the July 13, 2022 meeting where this was discussed can be found at https://thinkdutchess.com/ida/2022-dcida-recordings/ The public hearing for this project is to be held Wednesday, August 31, 2022 at 9:30 a.m. at East Fishkill Town Hall. Written comments can also be submitted, see hearing notice https://thinkdutchess.com/wp-content/uploads/2022/08/CANAM-Hudson-Valley-Logistics-Public-Notice-PoJo.pdf Application materials were included in the July 13, 2022 DCIDA meeting packet and can be found at https://thinkdutchess.com/wp-content/uploads/2022/07/2022-0713-IDA-Reg-Mtg-Packet.pdf Doreen Tignanelli "Information is the oxygen in which the fire of democracy burns. If you have information, it burns, if you don't, it chokes". D. DeBar ############################################################## [recall below as well From Doreen Tignanelli (Doreentig@aol.com) of the Town of Poughkeepsie: Special IDA & LDC meetings, Friday April 8 for projects in Beacon and Town of Pok, Zoom and in-person 12:24 PM (9 hours ago) The IDA & LDC posted special meetings for Friday April 8, 2022. The regular April meetings are scheduled for April 20. The special meetings are likely being held ahead of the regular meetings to hasten rubber-stamping of final approvals. Item 8C for 23-28 Creek Drive in Beacon includes increasing Sales Tax Exemption benefit by $95,000. Creek Drive already received PILOT and sales and mortgage tax exemptions. Special IDA meeting, April 8, 8 a.m. https://thinkdutchess.com/wp-content/uploads/2022/04/2022-0408-IDA-Special-Mtg-Notice-Agenda.pdf 8. New Business A. For Consideration and Approval of a Supplemental Resolution for Arthur May Redevelopment Holdings, LLC (Town of Poughkeepsie) authorizing the modification of the previously approved documents to (1) reflect that initial ownership of the Facility will be in Arthur May Redevelopment LLC and (2) authorize the future assignment of all or any portion of the Facility to Arthur May Redevelopment Holdings LLC. B. For Consideration and Approval of a Supplemental Resolution for Violet Estates Owner, LLC (Town of Poughkeepsie) (1) authorizing the termination agreements between the Agency and Violet Estates, LLC; (2) authorizing the assignment of Sales Tax Exemption benefits previously approved for Violet Estates, LLC to Violet Estates Owner, LLC; and (3) authorizing the amendment of the existing Lease and Project Agreement with Violet Estates Owner, LLC to reflect that Violet Estates Owner, LLC will be the operator of the Project. C. For Consideration and Approval of a Supplemental Resolution for 23-28 Creek Drive, LLC (City of Beacon) authorizing the amendment of the existing Lease and Project Agreement (1) to extend the Completion Date to July 31, 2022 and to extend the termination of the Sales Tax Exemption benefit to December 31, 2022 and (2) increase the Sales Tax Exemption benefit by $95,000.00. Special LDC meeting, April 8 (Immediately following IDA Meeting) https://thinkdutchess.com/wp-content/uploads/2022/04/2022-0408-LDC-Special-Mtg-Notice-Agenda-1.pdf 7. Unfinished Business A. Consideration and Approval of a Final Bond Resolution for (1) the issuance of the LDC’s Tax-Exempt Revenue Bonds, Series 2022 (Marist College Project) in an amount presently estimated to be $60,000,000 but not to exceed $65,000,000 for the benefit of Marist College for renovation and additional construction for the College’s Dyson Center building; and (2) the issuance of the LDC’s Tax-Exempt Refunding Bonds, Series 2023 (Marist College Project) in an amount not to exceed $13,000,000 for the benefit of Marist College for the refunding of the LDC’s outstanding Revenue Bonds, Series 2013A. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ [recall below] call Hochul and state legislators: 877-255-9417 @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ From the Town of Poughkeepsie's Doreen Tignanelli (Doreentig@aol.com): Invent Albany supports bill banning subsidies for E-Commerce Warehouses and Distribution Centers Good news if the bill passes. Reinvent Albany calls subsidies to Amazon, etc. "New York’s dumbest forms of taxpayer handouts" https://reinventalbany.org/2022/03/reinvent-albany-fully-supports-nys-senate-bill-banning-state-local-subsidies-for-e-commerce-warehousing/ Reinvent Albany Fully Supports NYS Senate Bill Banning State/Local Subsidies for E-Commerce Warehousing March 2, 2022 Reinvent Albany Fully Supports NYS Senate Bill S8418 Banning State and Local Subsidies For E-Commerce Warehouses and Distribution Centers New York State and local governments spend $10B a year subsidizing businesses, most of which goes to enormous, highly profitable corporations. Huge e-commerce companies like Amazon, Walmart, Best Buy and Home Depot do not need or deserve handouts from NY taxpayers. Among New York’s dumbest forms of taxpayer handouts are the hundreds of millions of taxpayer dollars supporting e-commerce warehouses and distribution centers. This is a total waste of public funds. Research by national watchdog Good Jobs First clearly shows companies locate their distribution networks based on access to highways and major markets, not subsidies. https://storymaps.arcgis.com/stories/adc5ff253a3643f88d39e7f3ef1a09ee We thank Senator Ryan and Assemblymember Solages for introducing this important legislation and the growing number of New York and national advocates standing behind it. https://www.nysenate.gov/newsroom/press-releases/sean-m-ryan/senator-sean-ryan-assemblymember-michaelle-solages-announce-bill FOR IMMEDIATE RELEASE FROM SENATOR RYAN - 3/2/22 SENATOR SEAN RYAN, ASSEMBLYMEMBER MICHAELLE SOLAGES ANNOUNCE BILL TO END IDA SUBSIDIES FOR AMAZON  State Legislators and Advocates for Responsible Economic Development Push for an End to Subsidies for Amazon and Companies Like It ALBANY – Today, March 2, 2022, New York State Senator Sean Ryan and Assemblymember Michaelle Solages were joined by several national and state advocates for responsible economic development as they announced their legislation (S.8418) to prevent industrial development agencies (IDAs) in New York State from providing further subsidies to Amazon and other companies like it. IDAs were established in the late 1960s to incentivize economic development in localities by attracting businesses and creating jobs. However, the incentives offered by IDAs today often include the waiving of property and sales taxes, resulting in significant loss of revenue for municipalities, school districts, and local transit agencies. This bill would prohibit New York’s IDAs from offering subsidies for e-commerce storage and transfer facilities, putting an end to incentives that often go to large, multi-billion-dollar corporations with dubious economic growth projections. IDAs in New York have diverted nearly $400 million in subsidies to Amazon alone since 2013. These subsidies often produce warehouses with mostly part-time jobs that pay $15 an hour – or about $31,000 a year – well below the median wage of many municipalities across New York. In 2021 alone, Amazon received more than $176 million in subsidies for distribution centers in New York. The e-commerce giant reported $470 billion in sales in 2021, earning the company $33.4 billion in profits for the year. Senator Ryan was instrumental in passing IDA reforms in the FY 2013-2014 State Budget that banned retail projects from receiving tax breaks, mandated more accountability from IDAs, and ensured all tax break agreements include claw-back provisions to enforce job creation promises. Senator Sean Ryan said, “New York’s taxpayers should not bear the burden of subsidizing massively profitable companies like Amazon – and especially not when those subsidies are buying us low-wage jobs. We need to prioritize high-road economic development in New York, and this bill will help eliminate wasteful spending that benefits multinational corporations at the expense of our local municipalities.” Assemblymember Michaelle Solages said, “Each year, industrial development agencies (IDAs) issue millions of dollars in tax exemptions with little oversight, and create too few jobs to justify them. This bill will reduce the massive loss in revenue local governments have to endure when IDAs provide these tax write-offs. E-commerce companies which bring in hundreds of billions of dollars in revenue each year must pay their fair share in taxes if they wish to build their facilities in New York State.” Senator James Skoufis said, “I’m proud to stand with Senator Ryan in calling for a long overdue end to corporate handouts for warehousing giants like Amazon. These facilities are coming to our state whether they receive IDA incentives or not; they locate in regions where they determine better distribution networks are needed. Yet, my constituents continue shouldering these property tax breaks because IDAs continue to recklessly award these unnecessary subsidies. If the IDAs won’t willingly protect taxpayers and stop providing these handouts, the Legislature must step in and force the issue.” Pat Garofalo, Director of State and Local Policy at the American Economic Liberties Project, said, “Subsidizing Amazon’s monopoly with public money directly harms local businesses, workers, and taxpayers. New York should set an example for the country by passing S.8418 and cutting off subsidies to Amazon's warehouse network. Doing so would send a message that New York doesn’t tolerate using public resources to build private, corporate power.” Ron Deutsch, Director of New Yorkers for Fiscal Fairness, said, “Continuing to subsidize e-commerce companies like Amazon to develop distribution warehouses that they need to build anyway simply makes no logical economic sense. It's a waste of hundreds of millions of public dollars that could be better spent on public services like childcare, home care, and higher education that have far greater returns on investment. Many thanks to Senator Ryan for introducing a bill to end these ridiculous corporate giveaways to one of the world’s richest companies.”