Oneida County Announces New Housing Incentives

The Oneida County Industrial Development Agency has created a new initiative to encourage development of specific types of rental housing.

County Executive Anthony Picente says the Uniform Tax Exemption and Agency Benefits Policy keeps in line with his Vision 2020 initiative.

The policy includes benefits that range from exemption of sales tax to exemption of real estate taxes.

In order to be considered for IDA assistance, projects must have a minimum of five units in the renovation or conversion of a building and 24 units for new construction.

Projects have to be located in targeted urban areas and have a minimum investment of $400,000 for renovation projects and $1.2 million for new rental housing.

For more information on the policy and a map of eligible areas, visit www.OneidaCountyIDA.org.