Hornell IDA to Get Tough on Their Loan/Grant Policy

June 3, 2016

Hornell, NY – Businesses getting loans and grants from the Hornell IDA will find a lot more paperwork and requirements in the near future. IDA director Jim Griffin said that they will vote on a resolution at next months meeting to require any business requiring their assistance to complete an extensive application and be obligated to abide by it. In the proposal, if a business does not meet their promised employment targets, the IDA can rescind assistance under a recapture policy. In the past, it was only done on a handshake agreement and was not strictly enforced.

The Hornell IDA decided to take the first steps to clean up toxic ground on the corner of Horton and Seneca Streets left by petroleum storage tanks from years ago. The initial study to find out the degree of pollutants in the ground will cost $5,500 with the work to be done by Lu’s Engineering. The remediation of the toxins could cost up to $20,000 according to IDA Director Jim Griffin.

Updyke’s proposed Convenience store to be built on the corner of Ice House Road and East Main Street is progressing nicely with the backing of local banks and the IDA. Hornell Mayor Shawn Hogan says the half million dollar project will be a nice addition to that end of town, with a deli, fresh fruit and vegetables, and basic groceries. No gasoline pumps are planned at this time.