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Financing & Benefits

The Auburn Industrial Development Authority (AIDA) was formed under Article 18-A of New York State General Municipal Law to actively promote, encourage, attract and develop job opportunities and economically-sound commerce and industry to the City of Auburn. AIDA is empowered to provide financial assistance to private entities through tax incentives in order to promote the economic welfare, prosperity and recreational opportunities for residents of Auburn. Any company considering a construction/renovation/expansion project or other economic development activity within the City, or seeking assistance to retain its business interests in Auburn, should contact AIDA.

The following incentives are available:

  • Sales tax abatement
  • Property tax abatement
  • Mortgage tax exemption
  • Tax exempt, below market financing

Fee Structure

  • Application Fee of $250 for all projects
  • Projects with Total Project Cost of $100,000 to $750,000 requesting sales tax abatement only: $500 project fee, plus $2500 legal fees
  • Projects with Total Project Cost of $100,000 to $750,000 requesting sales tax abatement and mortgage tax exemption: $1000 project fee, plus $3000 legal fees
  • Projects with total Project Cost greater than $750,000: project fee equal to 1% of total project cost, plus legal fees
  • Tax Exempt Bonds: administrative fee of 3/4ths of 1% of the total principal amount of the bonds, plus legal fees