REAC Rockland Economic Assistance Corp

ROCKLAND COUNTY

ECONOMIC ASSISTANCE CORPORATION

EAC

HELPING COUNTY NOT-FOR-PROFITS

GAIN ACCESS TO LOW-COST

TAX EXEMPT FINANCING

The Rockland Economic Assistance Corporation (REAC) was formed on behalf of Rockland County as a not-for-profit local development corporation. REAC’s primary purpose is to enable not-for-profit corporations within the County to have access to low-cost tax-exempt financing. REAC acts as an instrumentality of the County. REAC is self-supporting and does not receive any public funds.

Steven Porath, REAC Executive Director

REAC Board* members include:

Click on names to read bio's.

*Committees of the Corporation: The Board was appointed in 2010. Board members are appointed by the Rockland County Executive and Legislature to three-year terms. They also serve as members of the Governance, Audit, and Finance Committees.

REAC Counsel

Brian Quinn, Esq., Local Project Counsel Montalbano, Condon & Frank, P.C.
Ronald Grosser, Esq., Bond Counsel Hawkins, Delafield & Wood LLP

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3 Click here to download the application

Fill in the

application

Via U. S. mail, send the application to our offices

Click here for the address

Tax-exempt Financing for Eligible Projects: REAC is authorized to issue conduit bonds for projects of other not-for-profit entities that are located within the County. For eligible projects, REAC bonds will qualify for tax-exempt status.

Mortgage Recording Tax Exemption: As an instrumentality of the County, mortgages on which REAC is a mortgage or that are granted in connection with such financings, are exempt from payment of the state and local mortgage recording tax.