COIDA and OCCRC Board of Directors. Robert Hanft pictured.
COIDA and OCCRC Board of Directors. Robert Hanft pictured.

 

 

The County of Otsego Industrial Development Agency (the IDA) is a non-profit public benefit agency formed under the New York State Industrial Development Agency Act (Article 18-A of NYS General Municipal Law, as amended) by establishing legislation in 1973. The Otsego IDA is governed by the actions of its Board of Directors, who are appointed by the Chair of the Otsego County Legislature. The Otsego IDA is self-funded and is not an office or department of the Otsego County government. As of December 31, 2014, the COIDA financial position was solid, with over $6 million in net assets.

The Otsego County Capital Resource Corporation (OCCRC) is a local development corporation, formed on October 15, 2008 by filing a certificate of incorporation approved by resolution of the Otsego County Board of Representatives. The OCCRC is governed by the actions of its Board of Directors, which consists of the Directors of the IDA. The OCCRC is self-funded and is not an office or department of the Otsego County government.