Industrial Development Agency (IDA)


NOTICE OF EXTENDED PUBLIC COMMENT PERIOD

A public hearing was held on November 30, 2023 at 10:30 a.m. for the 115 Macquesten Development LLC Project. Public hearing comments will continue to be received in writing via email or U.S. mail up until December 7, 2023 at 5:00 p.m

If you would like to provide comments, please email them to MVBiz@cmvny.com or by U.S. Mail at “City of Mount Vernon Industrial Development Agency, c/o City Hall, 1 Roosevelt Square, Mount Vernon, New York 10550-2060, Attention: 115 Macquesten Development LLC Project.”

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About Us

The Mount Vernon Industrial Development Agency (“MVIDA”) is a public benefit corporation authorized by the State of New York.

Mission

The mission of MVIDA is to promote, develop, and assist businesses seeking medium- to long-term financial assistance for eligible projects in the areas of manufacturing, warehousing/distribution, and mixed-use developments such as housing and retail facilities in the City of Mount Vernon. MVIDA’s overall goal is to attract and create job opportunities and economic vitality for the ultimate benefit of its residents.

Duties

Pursuant to the New York State Industrial Development Agency Act, MVIDA is allowed to issue revenue bonds/notes, sales tax exemption, mortgage recording tax exemption, and property tax abatement to support private or commercial businesses for new construction or rehabilitation. Properties involved in a project are legally titled to MVIDA until all financial obligations are satisfied. Each completed MVIDA project continues to attract investors, foster economic growth, and enhance the City’s strategic growth plans.


Proposed UTEP Amendments

  1. Amended and Restated UTEP and Recapture Policy (PDF)
  2. MVIDA - Comparison - Current UTEP to Amended and Restated UTEP and Recapture Policy (PDF)

Questions from the Public

Submit questions to our hearing meetings via an online form.