The Amherst IDA is working redevelop older portions of Amherst by working with the Town of Amherst and several grassroots organizations (such as the Eggertsville Community Organization, Harlem-Kensington-Cleveland Business Association, and Williamsville Business Association) to help "redevelop and re-invent" older portions of Amherst. These designated "Enhancement Areas" have been profiled for aid and assistance through specific criteria developed and included in the Countywide Eligibility Policy.
By improving streetscapes, pedestrian access and commercial corridors, we intend to rejuvenate and cultivate interest in the unique characteristics of the surrounding environments. The end results will benefit everyone while maintaining property values and building a sense of "place" in our community.
The following areas have been identified through a strategic planning process by the Town of Amherst and Village of Williamsville to include properties that the AIDA and Town of Amherst can assist through its Neighborhood Redevelopment Incentive Program:
Eligible projects may take advantage of the three (3) AIDA incentive programs:
- SALES TAX EXEMPTION - Approved projects assisted through the AIDA are exempt from payment of sales tax on construction materials, equipment and fixtures.
- MORTGAGE RECORDING TAX EXEMPTION - Approved projects are exempt from the 1% New York State Mortgage Recording Tax for commercial property.
- PROPERTY TAX ABATEMENT - Eligible projects adding new taxable assessed value can apply for a tax abatement under the Countywide IDA PILOT (payment in lieu of tax) policy which classifies projects by use and occupancy. The PILOT policy for AIDA projects follows NYS Real Property Tax 485b, which begins at 50% and decreases 5% annually for 10-years.