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HOYT WILL INTRODUCE BILL ON IDA DEVELOPMENT

A bill to be introduced by Assemblyman Sam Hoyt, D-Buffalo, would encourage industrial and commercial redevelopment in urban areas and discourage it in suburban and rural locations.

Hoyt's measure would steer development by restricting the way industrial development agencies provide funding to various projects. With a few exceptions, the bill would prohibit IDAs from giving money to projects unless they were located on or near land used for similar purposes in the past.

"Ultimately," Hoyt maintained, "this bill offers significant advantages to every type of community.

"Urban areas will be less vulnerable as federal welfare reform requires state and local governments to supply more employment opportunities; industry creates jobs and an expanded tax base. Suburban and farm communities will have an easier time preserving a natural habitat, as well as an opportunity to thoroughly plan for any industrial newcomer."

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