Local Development Corporation (LDC)
The Town of Huntington Local Development Corporation (THLDC) is a local development corporation formed on April 7, 2010 by the Town under New York Not-For-Profit Corporation Law. The Town, acting through its Town Board, is the sole member of the THLDC.
Under New York State law, LDCs are authorized to enhance economic development and business opportunities by, among other things, providing financial assistance.
Long Island’s not-for-profit organizations have largely displaced its manufacturing base as the area’s primary economic engines and employers. Despite this shift in the economic landscape, many of Long Island’s largest employers (its colleges, universities, hospitals, nursing homes, assisted living facilities, museums, libraries, social service providers to disabled persons, and other not-for-profits) have limited opportunities for low cost financing. Accordingly, the Huntington LDC is ready and able to assist not-for-profits operating within the Town of Huntington and its surrounding communities.
Favorable financial terms, including mortgage recording and other potential exemptions, can be available. A link to the Huntington LDC’s Application for Financial Assistance may be found below, together with other links to the public authority's policies, procedures, by-laws, meeting minutes and other documents as required by the New York State Public Authorities Accountability Act.
Board of Directors
Mark A. Cuthbertson
Joan A. Cergol
Edmund J. Smyth
Listing files in 'TOH Local Development Corporation'
LDC 2018 Budget Planner & Multi-Year Financial Plan as required by NYS Public Authorities Law