2006 STEUBEN COUNTY IDA

The Steuben County IDA is working on various economic development projects throughout the county offering sales tax abatement, mortgage tax abatement and Payment-in-Lieu-of Taxes. The IDA is a liaison with other agencies such as Southern Tier Central Regional Planning and Development Board, Regional Economic Development & Energy Corp., and Three Rivers Development Corp. It is a conduit for loans and Federal and State grants. It assists many projects in the site selection process.

The accomplishments of the agency are as follows;

• Facilitated the acquisition of property for a bio mass generating facility in the Town of Avoca. Offering financial assistance for this 20 MW wood fired power plant and associated fuel storage
project.
• Acting as Lead Agency in the SEQR process for the Clipper Windpower project located in the Town of Hornby and Town of Orange (Schuyler County).
• Working closely with other area development companies on the Southeast Steuben Success website which will identify sites that are available for development which started in the southeast corner of Steuben County and added the entire County.
• Acting as Lead Agency in the SEQR process for the UPC Wind Management, LLC Windfarm Prattsburgh project. Working closely with LaBella Associates on this $100,000,000 windfarm project. Have completed the Final Environmental Impact Statement for this project.
• Authorized financial assistance to Corning Property Management Corp. for a heat and power plant upgrade for the Corning Museum of Glass.
• Acting as Lead Agency in the SEQR process for the Airtricity Windfarm project in the Town of Hartsville. Final Scope is completed for this $120,000,000 project.
• Induced the UPC Wind Management, LLC Windfarm project in the Town of Cohocton. The Town of Cohocton is acting as Lead Agency in the SEQR process for this project.
• Acting as Lead Agency in the SEQR process for the 60 MW Windfarm project in the Town of Howard being proposed by Everpower Renewables.
• Provided bond financing for a 75 unit multi-family project. This project is 30+ years old and is being renovated and preserved as affordable housing with Federal Tax Credits being allocated by New York State.
• Provided financial assistance to T & K Realty LLC in the form of sales tax exemption, mortgage tax exemption and PILOT agreement for their project. The property will house Birnie
Transportation Services, Inc. which services the district’s school buses.
• Assisted Wyckoff Gas Storage facility in the Town of Jasper project. This is a 31 million project that will utilize a depleted gas field by injecting gas into the caverns that are already in
existence.
• Assisted Automated Cells & Equipment, an existing project, with an addition to their facility.
• Assisting Corning Property Management Corp. with their $170.8 million renovation of the Sullivan Park Development Building. This is to upgrade their 1960 facility which is at the end of its life cycle.

2006 STEUBEN COUNTY IDA PROJECTS

• Bell Independent Power
• Clipper Windpower
• Smart Systems
• UPC Wind Management, LLC – Windfarm Prattsburgh
• Corning Property Management Heat & Power plant upgrade
• Airtricity
• UPC Wind Management, LLC – Cohocton project
• Howard Wind LLC
• Village Square Apartments
• Automated Cells & Equipment
• T & K Realty LLC
• Wyckoff Gas Storage Project
• Corning Sullivan Park Development Building
Property held by the Steuben County Industrial Development Agency at the end of 2006 was 99 acres in the Steuben County Industrial Park, Route 54 & County Route 113, Town of Bath. The estimated FMV of this property is Four hundred ninety-five thousand dollars ($495,000).

No property was disposed on in the year 2006.

The internal control structure of the agency effective in that all checks are required to have a voucher and to have two signatures. The vouchers are numbered. Checks that are under $2,500 are signed by the Treasurer and the Executive Director. Checks that are over $2,500 are signed by the Treasurer and either the Chairman or Vice Chairman of the Agency. All checks are reviewed monthly by the Chairman or the Vice Chairman.

An independent audit is performed annually.

CODE OF ETHICS OF THE STEUBEN COUNTY INDUSTRIAL DEVELOPMENT AGENCY

The members of the board (the “Board”) of the Steuben County Industrial Development Agency (the “Agency”), a duly established public benefit corporation of the State of New York (the “State”), along with the officers and staff of the Agency, shall comply with and adhere to the provisions of Article 18 of the General Municipal Law of the State.

Further, no director, officer, or employee of the Agency shall (1) accept other employment which will impair his or her independence of judgment in the exercise of his or her official duties; (2) accept employment or engage in any business or professional activity which will require him or her to disclose confidential information which he or she has gained by reason of his or her official position of authority; (3) disclose confidential information acquired by him or her in the course of his or her official duties nor use such information to further his or her personal interests; (4) use or attempt to use his or her official position to secure unwarranted privileges or exemptions for himself, herself or others; (5) engage in any transaction as a representative or agent of Agency with any business entity in which he or she has a direct or indirect financial interest that might reasonably tend to conflict with proper discharge of his or her official duties; (6) not, by his or her conduct, give reasonable basis for the impression that any person can improperly influence him or her or unduly enjoy his or her favor in the performance of his or her official duties, or that he or she is affected by the kinship, rank, position or influence of any party or person; (7) abstain from making personal investments in enterprises which he or she has reason to believe may be directly involved in decisions to be made by him or her or which will otherwise create substantial conflict between his or her duty in the public interest and his or her private interest; and (8) endeavor to pursue a course of conduct which will not raise suspicion among the public that he or she is likely to be engaged in acts that are in violation of his or her trust.

Approved and adopted this 27th day of April 2006