BENEFITS

 

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 mortgagor that are granted in connection with such financings, are exempt from payment of the state and local mortgage recording tax.

GAIN ACCESS TO LOW-COST 

 

TAX EXEMPT FINANCING

 

 

REAC

ABOUT US

 

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 assist other 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.

BOARD OF DIRECTORS

 

Steven Porath, REAC Executive Director

 

REAC Board* members include:

  • Eric Dranoff, Esq., Chair

  • Howard Hellman, Secretary

  • Timothy Riley, Treasure

  • Peggy Zugibe

 

*Committees of the Corporation: The Board was appointed in 2010. 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

Upcoming meetings

 

 

Click on dates to read minutes of past meetings

2016

 

 

                     2015                                2014

      January 2015    July 2015                          January 2014    July 2014

    February 2015   August 2015                  February 2014    August 2014                              March 2015   September 2015                 March 2014    September 2014

           April 2015   October 2015                        April 2014    October 2014

            May 2015   November 2015                     May 2014    November 2014

            June 2015   December 2015                      June 2014    December 2014

  

 

 

MINUTES

HELPING OTHER COUNTY NOT-FOR-PROFITS

 

ROCKLAND COUNTY

 

 

 

ECONOMIC ASSISTANCE CORPORATION

 

 

 

 

 

EAC

LEARN MORE

 

For more information about the REAC, benefits and eligibility criteria as well as the approval and application process, contact Executive Director Steve Porath at:

PUBLIC  DOCUMENTS

 

The Rockland County Industrial Development is guided by applicable New York State Laws, to ensure that that responsibilities, functions of the Agency and the Board oversight are transparent and accountable to the public. The IDA annually reviews and re-adopts its by-laws, policies, best practices and related documents consistent with the existing applicable laws of New York State. 

 

The documents serve as a guide in the administration and management of the Agency. All IDA public documents and policies were adopted and reaffirmed at a monthly meeting of the Industrial Development Agency, held on March, 2016.

 

Bi-Laws    

Uniform Tax Exempt Policy

 

FINANCIAL REPORT

2016 Budget and Financial Plan 

2015 Budget and Financial Plan

2014 Budget and Financial Plan