Please accept this correspondence as notice from the Erie County Industrial Development Agency (the "Agency") that the Agency contemplates amending its Uniform Tax Exemption Policy ("UTEP") under Section 874 of the General Municipal Law of the State of New York (the "GML").  The Agency anticipates amending its UTEP to allow for certain policy clarifications with respect to For-Profit Market Rate Senior Housing projects.

            Click on the link below and  you will find a copy of Agency's "Policy Options Regarding For-Profit Market Rate Senior Housing" which describes the Agency's current senior citizen housing policy, discusses New York State law/issues, reviews general background related to the Agency's past consideration of market-rate senior housing projects, reviews the 2012 UB Regional Institute study related to market factors affecting senior housing, and presents a summary of issues and considerations related to market-rate senior housing projects.  More specifically, in the section entitled ECIDA Market Rate Rental Senior Citizen Housing Policy, found on the bottom of page 3, you will find the proposed UTEP amendment. 

The Agency will hold a meeting of its members on June 17th, 2015 at 9:00 a.m., at the Agency's office located at 95 Perry Street, Buffalo, New York, to consider amending its UTEP as described herein and as more specifically described as referenced above.    

We are providing this letter to you, pursuant to Section 874 of the GML, to notify you of the proposed amendments to the UTEP, and to inform you that the Agency is contemplating amending its UTEP to ensure more efficient use of the Agency's financial assistance (i.e., the use of sales and use tax exemptions, mortgage recording tax exemptions, and real property tax abatements) with respect to For-Profit Market Rate Senior Housing projects.

The Agency is seeking your comments and input regarding the proposed amendment to the UTEP.  If possible, comments should be submitted to the Agency by June 1, 2015.  Comments may be submitted to the Agency in writing and can also be provided through the Agency's website at www.ecidany.com.  Prior to taking final action on the proposed amendment, the Agency will review and consider such input and correspondence received from any affected tax jurisdiction and the public regarding the proposed amendment. 

            Should you have any questions or concerns please contact Steve Weathers or John Cappellino (716) 856-6525.

Click here for a copy of the Policy Options Regarding Market Rate Senior Housing (PDF)

If you would like to submit a comment regarding this policy, please use the form below. Alternatively, you may also email us directly at info@ecidany.com. Comments will be accepted until June 1, 2015 at 4:00 p.m.