§ 905 — Town of Hempstead industrial development agency

* § 905. Town of Hempstead industrial development agency. 1. For the\nbenefit of the town of Hempstead, county of Nassau, and the inhabitants\nthereof, an industrial development agency, to be known as the TOWN OF\nHEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY, is hereby established for the\naccomplishment of any or all of the purposes specified in title one of\narticle eighteen-A of this chapter. It shall constitute a body corporate\nand politic, and be perpetual in duration. It shall have the powers and\nduties now or hereafter conferred by title one of article eighteen-A of\nthis chapter upon industrial development agencies and provide that the\nexercise of the powers by such agency with respect to the acquisition of\nreal property whether by purchase, condemnation or otherwise, shall be\nlimited to the corporate limits of the town of Hempstead, and such\nagency shall take into consideration the local zoning and planning\nregulations as well as the regional and local comprehensive land use\nplans. It shall be organized in a manner prescribed by and be subject to\nthe provisions of title one of article eighteen-A of this chapter. Its\nmembers shall be appointed by the governing body of the town of\nHempstead, county of Nassau. The agency, its members, officers and\nemployees, and its operations and activities shall in all respects be\ngoverned by the provisions of title one of article eighteen-A of this\nchapter.\n 2. Prior to the approval of any application for a payment in lieu of\ntaxes (hereinafter referred to in this section as "PILOT") agreement by\nthe agency for a project located in the village of Freeport or the\nvillage of Hempstead, the chief executive officer of the affected\nvillage shall be consulted. The agency shall also consult with the\nvillage governing body prior to any PILOT agreement being approved by\nthe agency for a project located in the village of Freeport or the\nvillage of Hempstead. In addition, the agency shall obtain an impact\nanalysis to determine the impact on the village of the project and the\nplanned PILOT agreement. The applicant for such PILOT agreement shall\nbear the costs related to the required impact analysis. The agency and\nthe village governing body shall jointly select a qualified entity to\nconduct the impact analysis. The membership of the agency, when\nreviewing applications and approving PILOT agreements for projects\nlocated in the village of Freeport or the village of Hempstead, shall\ninclude at least one member of such village's governing body and at\nleast three at large members drawn from a cross section of the village\ncommunity.\n 3. The agency shall review any PILOT agreement for a project located\nin the village of Freeport or the village of Hempstead after the third\nyear of entering into such PILOT agreement, and every third year\nthereafter, and adjust the PILOT agreement accordingly based on changes\nto the assessed value and tax rate of all other real properties located\nin such villages. The agency shall provide a written report to the\nvillage of Freeport and the village of Hempstead documenting any and all\nvariances or changes to the projected revenues of such villages from any\nsuch PILOT agreement.\n 4. A PILOT agreement for a project located in the village of Freeport\nor the village of Hempstead shall not be renewed or renegotiated until a\nfull audit has been completed of the accounts of the party obligated to\nmake payments in lieu of taxes pursuant to the PILOT agreement with the\nagency. The agency and the village governing body shall jointly choose a\nqualified entity to conduct such audit. The party that is obligated to\nmake payments in lieu of taxes pursuant to the PILOT agreement with the\nagency shall bear the costs of preparing such audit. The village of\nFreeport or the village of Hempstead may request from the office of the\nstate comptroller an audit or review of the audit prior to the renewal\nor renegotiation of a PILOT agreement for a project located in the\nvillage of Freeport or the village of Hempstead.\n * NB Agency expires per §§ 856 and 882\n