Determine whether the City of Cohoes Industrial Development Agency (CCIDA) complied with the 2015 industrial development agency (IDA) legislative reform.
The Board did not ensure that:
- Adequate cost-benefit analyses for proposed projects were developed before project approval.
- Annual project status reports were submitted in a timely manner.
- Annual assessments of progress toward achieving project goals were performed.
- Ensure adequate project cost-benefit analyses are developed before project approval.
- Ensure annual project status reports are submitted in a timely manner.
- Annually assess the progress of projects toward achieving project goals.
CCIDA officials agreed with our recommendations and indicated they planned to initiate corrective action.