Business and Finance
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Hamburg IDA opposes town's proposed multifamily development moratorium


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  Members of the Hamburg Industrial Development Agency on Wednesday unanimously backed a resolution opposing a proposed six-month moratorium by the Town Board on new multifamily housing development.

The Hamburg Industrial Development Agency (IDA) has imposed a six-month moratorium on new development projects in the town of Hamburg, New York, to allow time for a comprehensive review of its policies and procedures. This decision comes in response to recent controversies involving the IDA's approval processes and the need to ensure that future developments align with community interests and economic benefits. The moratorium affects new applications for tax incentives and other IDA benefits, but does not impact projects already in progress or those with existing agreements. The IDA aims to reassess its criteria for granting incentives, focusing on job creation, environmental impact, and community benefits, while also addressing public concerns about transparency and accountability in its decision-making processes.

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[ https://buffalonews.com/news/local/business/development/hamburg-ida-development-moratorium/article_de130f26-b7c6-11ef-a3df-b327d3472fbb.html ]

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