St. Lawrence County legislators agree to pay IDA $600,000 over next 3 years at finance committee meeting
CANTON -- St. Lawrence County legislators agreed to extend a contract with the Industrial Development Agency through the year 2019 at a Monday finance committee meeting.
The IDA will now receive $200,000 from the county for the years 2017, 2018 and 2019. Last year during budget negotiations legislators cut funding to the agency from $400,000 to $200,000.At the time the county also decided to fund the IDA on a year-to-year basis.
On Monday legislators supported a resolution that will ensure the IDA receives funding for the next three years.
“Given the fiscal stresses of the county, the funding for the IDA has been continually reduced over the last few years,” the resolution says. “Realizing the value of the work the IDA does and believing it is vital to encourage and support economic development in St. Lawrence County, amending and extending the current contract will benefit the county.”
The committee passed the resolution, but it will also need support from the St. Lawrence County Board of Legislators, which is made up of the same members.
The payments will be issued in quarterly installments.