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AGREEMENTS\Economic Development Corp.—7-1-2024 TO 6-30-2027—10-7-2024
RESOLUTION AUTHORIZING AGREEMENT WITH
ECONOMIC DEVELOPMENT CORPORATION - WARREN COUNTY
FOR 07/01/2024 - 06/30/2027
RESOLUTION NO. ,2024
INTRODUCED BY:
WHO MOVED FOR ITS ADOPTION
SECONDED BY:
WHEREAS, the Town and the Economic Development Corporation - Warren County
(EDC) recognize the need to revitalize the local economy by increasing the number of jobs for
Town residents by attracting high technology and other industries to the area, and
WHEREAS, in accordance with the Not-for-Profit Corporation Law §1411(a) and EDC's
Certificate of Incorporation, the purposes of the EDC are the exclusively charitable or public
purposes of relieving and reducing unemployment, promoting and providing for additional and
maximum employment, bettering and maintaining job opportunities, instructing or training
individuals to improve or develop their capabilities for such jobs, carrying on scientific research
for the purpose of aiding a community or geographical area by attracting new industry to the
community or area or by encouraging the development or retention of an industry in the
community or area and lessening the burdens of government and acting in the public interest, and
WHEREAS, the Not-for-Profit Corporation Law specifically finds that corporations
organized under §1411 perform an essential governmental function, and
WHEREAS, the Town Board strongly supports EDC's important mission to improve
employment opportunities and economic development in the Town and therefore wishes to enter into
an agreement with EDC for 07/01/2024—06/30/2027,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves, authorizes and ratifies the
Agreement with the Economic Development Corporation - Warren County for July 1, 2024 —June
30,2027(Agreement)and in accordance with the Agreement,authorizes and directs the Town Budget
Officer to take all actions necessary to effectuate payments to E D C as follows :
1. For the year July 1, 2024 to June 30, 2025 the sum of$114,000;
2. For the year July 1, 2025 to June 30, 2026 the sum of$75,000; and
3. For the year July 1,2026 to June 30, 2027 the sum of$50,000;
to be paid from the appropriate account(s) as determined by the Town Budget Officer, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town
Supervisor/Deputy Town Supervisor to execute the Agreement in substantially the form presented at
this meeting and the Town Supervisor/Deputy Town Supervisor and/or Town Budget Officer to take
such other and further actions as may be necessary to effectuate the terms of this Resolution.
Duly adopted this 7 h day of October, 2024 by the following vote:
AYES
NOES
ABSENT: