ROCKLAND COUNTY

 

 

 

ECONOMIC ASSISTANCE CORPORATION

 

 

 

 

 

EAC

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. 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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application

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.

REAC meets at its offices the third Thursday of every month.

Click here for the public notice of the next REAC meeting.

 

Click on dates to read agenda and minutes of past meetings.

2019

                   

               2018                                 2017

 

 

 

   January 2019    July 2019

 February 2019    August 2019

     March 2019    September 2019

        April 2019    October 2019

         May 2019    November 2019

         June 2019    December 2019

POLICIES

                    January 2018       July 2018 - no meeting        

                  February 2018      August 2018                                       

                      March 2018      September 2018                    

                         April 2018     October 2018                           

                           May 2018     November 2018                         

                          June 2018     December 2018                     

  

   January 2017    July 2017 - no meeting

 February 2017    August 2017

     March 2017    September 2017

       April 2017    October 2017

         May 2017    November 2017

        June 2017    December 2017

 

All REAC public documents and policies were adopted and/or  reaffirmed

on March 28, 2019

CORPORATION DOCUMENTS

By-Laws

 2019 Mission Statement