The Town of Guilderland Industrial Development Agency is a Public Benefit Corporation created on April 3, 1973 pursuant to Chapter 146 of the 1973 Laws of New York granting powers under Title One of Article 18-A of the New York General Municipal Law.
Under the General Act, the Agency can undertake the following types of projects: manufacturing, warehousing, research, commercial, industrial, industrial pollution control, recreation, horse racing, educational and cultural, continuing care retirement community, railroad, and civic facilities within the Town of Guilderland.
The Agency undertakes projects either on its own behalf (an "Agency Project"), or for the benefit of an applicant (an "Applicant Project"). Applicant Projects may be either "Bond Projects" (i.e., involving Agency debt) or "Straight-Lease Projects" (i.e., not involving Agency debt).
General Municipal Law
Town of Guilderland Industrial Development Agency
For the benefit of the town of Guilderland and the inhabitants thereof, an industrial development agency, to be known as the TOWN OF GUILDERLAND INDUSTRIAL DEVELOPMENT AGENCY, is hereby established for the accomplishment of any or all of the purposes specified in title one of article eighteen-A of this chapter. It shall constitute a body corporate and politic, and be perpetual in duration. It shall have the powers and duties now or hereafter conferred by title one of article eighteen-A of this chapter upon industrial development agencies provided that the exercise of the powers by such agency with respect to the acquisition of real property whether by purchase, condemnation or otherwise, shall be limited to the corporate limits of the town of Guilderland, and such agency shall take into consideration the local zoning and planning regulations as well as the regional and local comprehensive land use plans. It shall be organized in a manner prescribed by and be subject to the provisions of title one of article eighteen-A of this chapter. Its members shall be appointed by the governing body of the town of Guilderland. The agency, its members, officers, employees, and its operations and activities shall in all respects be governed by the provisions of Title One of Article Eighteen-A of this chapter.