Albany County Industrial Development Agency ACIDA Harold L. Joyce Albany County Office Building
112 State Street, Room 740 | Albany, NY 12207
Phone: (518) 447-4841
Building the future of Albany County


The use of the Industrial Development Agency for qualifying projects can offer applicants several advantages:

  • The ability to borrow at significantly lower interest rate. if the project is eligible for tax-exempt financing. the reductions in debt service resulting from the lower tax-exempt rates is significant. if the project is not eligible for tax-exempt financing, a taxable bond may be issued which, if sold in public market, may result in lower debt service.
  • Borrowing money through the issuance of tax-exempt bonds enables the Borrower to access the public market.usually a letter of credit is required for the sale to public markets. The public markets, unlike most conventional sources of financing, offer long-term fixed rates.
  • Exemption from Mortgage Recording and Deed Transfer Taxes. The Mortgage securing the bonds is granted by the Agency. and therefore. is not subject to Mortgage Recording Taxes.
  • Real Property Tax abatement Under state law, property owned by the Agency is exempt from Real Estate Property Tax.
  • Exemption from Sales tax. Material purchased by or in the name of the Agency and incorporated into the real property owned by the Agency are not subject to New York State Local Sales and Use Tax
  • The possibility of utilizing the Agency to coordinate the State Environmental Quality Review Act ( SEQR ) process.