Town of Hempstead Industrial Development Agency
2020 Mission Statement and Performance Measurements
(2019 Review)
(Measurement Report)

Name of Public Authority:  Town of Hempstead Industrial Development Agency

Mission Statement:  

Pursuant to the General Municipal Law of the State of New York the Town of Hempstead Industrial Development Agency (“Agency” or “IDA”) was established under the laws of New York State to promote economic development and employment opportunities within the Town of Hempstead.

	The Agency is a public benefit corporation created by the State of New York and is a quasi-governmental authority that functions in the public interest.  The seven-member board over its 20 + years of existence and through its enacted policies and procedures has operated with transparency and openness. The Agency has, and will, continue to advance its statutory mandate to encourage economic growth and business activity, while preserving the best interests of the Town of Hempstead and its residents.

	This outreach is achieved through the Agency’s online site and involvement by staff and board members with the business community at seminars and events.

	The IDA believes that the most effective means to achieve its goals and reach its public purpose is to publicize the incentives that the agency provides. The key incentives include property tax relief, exemption from sales taxes and waivers of the mortgage recording tax.

	Board members are actively involved in the development of our mission and in the ongoing evaluation of how well the agency is meeting its goals.  During the year, the staff and board members discuss the contacts and proposed developments that have come to the IDA as well as the status of projects and the nature of what brought them to us.  Discussions further involve how well we are meeting the needs of those who contact the Agency and the key role that our incentives play in this regard.

List of Performance Goals:

•	Full compliance with all state disclosure requirements
•	Annual analysis of the jobs created and economic activity generated through its projects by board members and staff to determine if the agency’s mission statement is being realized
•	Transparency of all operations
•	Strict adherence by management of all internal controls
•	Outreach to business community and public, in general, to make them aware of the IDA’s existence and the benefits that the agency can provide
•	Ongoing update of the internet as well as the advertising program to best ensure that outreach is full realized
•	Ensure interaction and outreach to elected officials in jurisdictions affected by the town IDA

1.	Have the board members acknowledged that they have read and understood the mission of the public authority:  Yes and more over each Board member is highly engaged in the authority and its mission to enhance economic development and job growth.

2.	Who has the power to appoint the management of public authority?  The seven member board of directors appoint the management of the IDA

3.	If the Board appoints management, do you have a policy you follow when appointing the management of the public authority?  There are six staff members currently .  Each position requires a degree of expertise and specific qualifications for each title that the board and existing staff management have defined.

4.  Briefly describe the role of the Board and the role of management in the implementation of the mission.  Members of the board are actively involved in the development and implementation of the mission.  Prior to its adoption, the mission statement was reviewed and discussed by the full board and staff.  Pursuant to the New York State’s Public Authorities Accountability Act of 2005, (“the Act”) the day-to-day operation of the Agency is the specific obligation of its staff.

	The “Act” reposes in the IDA Board of Directors direct oversight and control over the management staff.  Thus, the board members are required to review and monitor financial and management controls and the operational activities of the IDA.  The Board sets policy through its approval of resolutions and the projects that it induces to receive IDA benefits.  Specifically, the Board members review and monitor the implementation of fundamental financial and management controls it establishes and enacts time and attendance rules and policies for staff salaries.  The IDA Board is responsible for the adoption of the Code of Ethics that governs the activities of all members of the IDA, procedures and policies to protect employees from retaliation, and an indemnification policy covering all staff and board members.  These have been in place for many years.

	The Agency has established an independent Audit Committee, which has the responsibility to oversee all financial operations, as well as all reports and governmental disclosures prepared by the IDA.  This Committee interacts with Sheehan and Company, the independent CPA firm that both conducts the annual audit and reviews all financial activities and transactions of the Agency on an ongoing basis throughout the year.  The committee continually examines and revises the internal controls that are in place at the Agency to ensure not only that all operations are conducted pursuant to the highest ethical standards, but also that any conflicts of interest are avoided.  

	The Agency’s Governance Committee seeks to ensure that the Agency follows and adopts best practices with respect to all IDA procedures, operations and policies.  The Committee members are attentive to government reforms and new initiatives adopted in both the public and private sectors to ensure that the IDA is both aware of such measures and adopts the most effective and efficient methodologies for the conduct of all Agency affairs.

	5.  Has the board acknowledged that they have read and understood the responses to each of these questions?   Yes, each board member provided input into the development of the mission statement as well as the policies and performance goals of the Agency.  At board meetings, there is discussion as to the progress of the Agency in meeting its performance goals, as well as a review of our performance policies and fulfillment of the mission statement.

Resolution: 010-2020
Adopted: 
Ayes: 	4
Nays:   0

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Chairman