NY Gen Mun L § 905 (2021)
2021 New York Laws GMU - General Municipal Article 18-A - Industrial Development Title 2 - Municipal Industrial Development Agencies 905 - Town of Hempstead Industrial Development Agency.

* §  905.  Town of Hempstead industrial development agency. 1. For the   benefit of the town of Hempstead, county of Nassau, and the  inhabitants   thereof,  an  industrial  development agency, to be known as the TOWN OF   HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY, is hereby established  for  the   accomplishment  of  any or all of the purposes specified in title one of   article eighteen-A of this chapter. It shall constitute a body corporate   and politic, and be perpetual in duration. It shall have the powers  and   duties  now or hereafter conferred by title one of article eighteen-A of   this chapter upon industrial development agencies and provide  that  the   exercise of the powers by such agency with respect to the acquisition of   real  property  whether by purchase, condemnation or otherwise, shall be   limited to the corporate limits of  the  town  of  Hempstead,  and  such   agency  shall  take  into  consideration  the  local zoning and planning   regulations as well as the regional and  local  comprehensive  land  use   plans. It shall be organized in a manner prescribed by and be subject to   the  provisions  of title one of article eighteen-A of this chapter. Its   members shall be  appointed  by  the  governing  body  of  the  town  of   Hempstead,  county  of  Nassau.  The  agency,  its members, officers and   employees, and its operations and activities shall in  all  respects  be   governed  by  the  provisions of title one of article eighteen-A of this   chapter.2. Prior to the approval of any application for a payment in  lieu  of   taxes  (hereinafter referred to in this section as "PILOT") agreement by   the agency for a project located in  the  village  of  Freeport  or  the   village  of  Hempstead,  the  chief  executive  officer  of the affected   village shall be consulted. The  agency  shall  also  consult  with  the   village  governing  body  prior to any PILOT agreement being approved by   the agency for a project located in  the  village  of  Freeport  or  the   village  of  Hempstead.  In  addition, the agency shall obtain an impact   analysis to determine the impact on the village of the project  and  the   planned  PILOT  agreement.  The applicant for such PILOT agreement shall   bear the costs related to the required impact analysis. The  agency  and   the  village  governing  body shall jointly select a qualified entity to   conduct  the  impact  analysis.  The  membership  of  the  agency,  when   reviewing  applications  and  approving  PILOT  agreements  for projects   located in the village of Freeport or the village  of  Hempstead,  shall   include  at  least  one  member  of such village's governing body and at   least three at large members drawn from a cross section of  the  village   community.3.  The  agency shall review any PILOT agreement for a project located   in the village of Freeport or the village of Hempstead after  the  third   year  of  entering  into  such  PILOT  agreement,  and  every third year   thereafter, and adjust the PILOT agreement accordingly based on  changes   to  the assessed value and tax rate of all other real properties located   in such villages. The agency shall  provide  a  written  report  to  the   village of Freeport and the village of Hempstead documenting any and all   variances or changes to the projected revenues of such villages from any   such PILOT agreement.4.  A PILOT agreement for a project located in the village of Freeport   or the village of Hempstead shall not be renewed or renegotiated until a   full audit has been completed of the accounts of the party obligated  to   make  payments in lieu of taxes pursuant to the PILOT agreement with the   agency. The agency and the village governing body shall jointly choose a   qualified entity to conduct such audit. The party that is  obligated  to   make  payments in lieu of taxes pursuant to the PILOT agreement with the   agency shall bear the costs of preparing  such  audit.  The  village  of   Freeport  or the village of Hempstead may request from the office of the   state comptroller an audit or review of the audit prior to  the  renewal    or  renegotiation  of  a  PILOT  agreement  for a project located in the   village of Freeport or the village of Hempstead.* NB Agency expires per §§ 856 and 882