The Putnam County IDA is governed by a Board of Directors that is appointed by the Putnam County Legislature. Board members are recommended for appointment to the Chairman of the IDA based upon relative experience and geographic residence, to ensure the best qualified individual representative of all municipalities in the County. Board members are appointed for three (3) year terms and, upon Board approval, are confirmed by the Legislature. All IDA Board Members serve as uncompensated volunteers.
In addition, the New York State ABO requires each IDA to appoint a Chief Executive Officer and a Chief Financial Officer to serve the IDA as non-voting staff. Job descriptions for each function can be found in the Putnam County IDA website under By-Laws.
The IDA also retains legal counsel to coordinate and deliver legal services to include, but not limited to, all aspects of straight-lease transactions and tax-exempt-taxable bond projects.
The Putnam County IDA has appointed Board Members to staff Committees, namely an Audit Committee and a Governance Committee. It is expected these Committees will meet separately from or in conjunction with the IDA Board meetings to discuss and recommend policies concerning evaluations and operations.
In addition, the State requires that Putnam County IDA to maintain various policies and procedures
which are posted on our website.
The IDA is also required to procure the services of an outside accounting firm to audit our activities each year. This audit, once approved by the Board of Directors, is posted on our website (and retained on the site for three (3) years).
ThePutnam County IDA is an active member of the Putnam Red Carpet Business Alliance. This is an
organization comprised of all social services available to prospective and active business interest in Putnam County. This involves the EDC/IDA, the Department of Labor, Putnam Workforce Partnership, the Community Colleges of Dutchess & Westchester, SCORE and NYSERDA.