2023 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