News from our Neighbors

CUOMO ANNOUNCES ESTABLISHMENT OF $10 MILLION LOW-INTEREST LOAN FUND FOR EXPANDING NORTH COUNTRY BUSINESSES

Southern Portion of Akwesasne also eligible

Albany, NY (August 28, 2014) Governor Andrew M. Cuomo announced the establishment of the North Country Economic Development Fund to provide low-cost loans to businesses expanding their facilities and creating or retaining jobs in the North Country. The $10 million fund results from a long-term power contract between the New York Power Authority and Alcoa.

At a meeting Thursday, the Board of Directors of the Development Authority of the North Country approved the protocol needed to jointly administer the loan fund with the New York Power Authority and to receive applications from businesses looking to expand in St. Lawrence, Clinton, Franklin, Essex, Jefferson, Lewis, Hamilton or Herkimer County. Expanding enterprises within the New York boundaries of the Akwesasne Mohawk Reservation are also eligible.

Applications will be reviewed regularly by the North Country Economic Development Fund Board, which consists of representatives from the New York Power Authority, the Development Authority of the North Country, the North Country Alliance and Empire State Development. For every $25,000 loaned from the fund, at least one job must be created or retained. Businesses are eligible to apply for loans of up to 30 percent of the planned project cost, with the ceiling for the loans is set at $300,000. Businesses interested in applying for funding can visit the Development Authority of the North Country’s website for more information.

The North Country Economic Development Loan Fund is available to manufacturers, agri-business, clean and green bio-technology, assemblers and wholesale distributors, warehouses for the purpose of acquisition of land, building construction and rehabilitation and for the purchase of machinery or equipment. Funding is also available for business improvement districts and not-for-profit entities eligible to apply for community revitalization projects. Retail and market applicants may also be eligible, but must meet special criteria in order to be considered for a loan.

In addition to the new loan program, New York Power Authority resources have supported the creation of multiple economic development initiatives that are currently available to enterprises in the North Country, including: Preservation Power, the Greater Massena Economic Development Fund and low-cost power and funding through the St. Lawrence River Valley Redevelopment Agency. In total, more than $25 million and 25 megawatts are still available for deployment, which does not include the roughly 173 megawatts still available for businesses and not-for-profit organizations through Governor Cuomo’s Statewide ReCharge NY initiative.

Alcoa has also expanded funding for its workforce development training program for current employees to train for high demand technical jobs that will be needed in the plant’s future operations.

MASSENA TURNS TO CONSULTANT TO AID HOSPITAL DECISION

MASSENA, N.Y. -- Massena Memorial Hospital has lost more than $2.5 million of operating losses this year, a number that has the hospital’s future up in the air.

The town is turning to a national healthcare consultant, Newpoint Healthcare, to look into all factors of Massena Memorial, beginning with what the community wants in a hospital.

The consulting group will then work towards finding a direction for the hospital moving forward. One of the questions the town hopes to have answered is how can public Massena Memorial partner with private hospitals

Town officials are hoping to also see advantages financially. They’re hoping to get a recommendation in about a month.

POTSDAM POLICE WARN OF PHONE SCAMMERS CLAIMING TO BE IRS

(September 3, 2014) POTSDAM – Potsdam police say they received a phone call from a Hannawa Falls resident inquiring about any cases of fraudulent telephone calls from people impersonating IRS agents.

The woman stated that the caller requested account information and both informed her that she owed back tax payments and threatened her with arrest.

Police remind the public to be aware of possible schemes and refer to thewww.irs.gov for tax information.

If anyone receives similar phone calls, call the police at 265-2121.

CORNWALL’S DAM FUNDS AT RISK

Cornwall could be losing some or all of its revenue derived from the Moses-Saunders Dam. The provincial government intends to reduce the Power Dam Special Payment Program by 23.5% by 2017, with a phase-in starting in 2015.

The city receives about $420,000 annually for hosting the dam’s electricity generating station, owned by Ontario Power Generation, within it boundaries.

Cornwall’s chief financial manager, Maureen Adams, said the initial dam funding cut will be small and have little impact. But the size of further annual reductions will become more noticeable. She said the Ontario-wide power dam payment is expected to be cut in 2016 to $16.8 million from $18.1 million in 2015 and further eroded to $14.3 million in 2017.

In the past, councillors have lobbied the province to compensate the city at a much higher rate. The city has argued it should receive property taxes from the dam, which would be much more than the special payment now received in lieu of taxes, because the city does not receive the benefits of electricity from the dam.