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The County of Monroe Industrial Development Agency (COMIDA) offers conduit financing for industrial and non-industrial projects through the issuance of tax-exempt industrial revenue bonds (IRBs), taxable IRBs and tax-exempt bonds. Lease/leaseback transactions, projects financed without the issuance of bonds, can also result in considerable project cost savings. In general, COMIDA can assist projects for the purchase of land, existing facility and new machinery & equipment, the construction of new facilities or the renovation of existing facilities. COMIDA can assist projects located throughout Monroe County, including the City of Rochester. COMIDA benefits can be combined with incentives provided by other sources.
For-profit companies that seek to save costs in order to make projects more feasible. Projects are usually owner-occupied, but can be developer-owned where COMIDA benefits are passed onto the project occupant(s). If a project is partially occupied, then partial benefits can be obtained for the occupied portion. There is no size limit by number of employees or sales volume as an eligibility criteria. Retail projects are not eligible for assistance unless they meet the exception criteria as established by New York State law.
In the absence of a waiver permitting otherwise, every project seeking COMIDA assistance must use all local labor for the construction of new, expanded or renovated facilities. "Local" is defined as residing in Monroe, Genesee, Livingston, Ontario, Orleans, Seneca, Wayne, Wyoming, orYates Counties. Certain JobsPlus and all Enhanced JobsPlus projects have an additional all local suppliers requirement. To request an exemption from the All-local labor requirement,click here.