[read complete report – pdf] | [read complete 2022 report – pdf] 

Purpose of Review

The purpose of our review was to assess the Chenango County Industrial Development Agency’s (CCIDA’s) progress, as of November 2024, in implementing our recommendations in the audit report released in April 2022.

Background

CCIDA is an independent public benefit corporation established in 1975. CCIDA’s Board of Directors (Board) is composed of seven members appointed by the Chenango County Legislature and responsible for CCIDA’s general management and financial and operational affairs. Commerce Chenango, Inc. (Commerce) was hired to perform administrative services on behalf of CCIDA. The President and Chief Executive Officer of Commerce is appointed by the Board as CCIDA’s Chief Executive Officer (CEO) responsible for the day-today operations.

CCIDA offers financial assistance to businesses; in return, many projects receiving CCIDA financial assistance promise to create new jobs or retain existing jobs in the community, invest in new buildings or in the renovation of existing buildings, and/or provide other benefits, including community generated power. The project owners also agree to make annual payments in lieu of taxes (PILOTs) to affected tax jurisdictions − municipalities or school districts – to help offset the tax exemptions provided.

Results of Review

We determined that the CCIDA has demonstrated minimal progress implementing corrective action. Of the 10 audit recommendations, one recommendation was fully implemented, one recommendation was partially implemented, and eight recommendations were not implemented.