June 27, 2008
NY Legislature Ends Nonprofit Access to Low-Cost Industrial Development Funding
Newsday reports that a dispute between organized labor and industrial development agencies (IDAs) has resulted in nonprofits no longer having access to IDA funding. Unions objected to IDAs funding nonprofits unless they conditioned that funding on the nonprofits paying union-level wages. Unable to overcome this objection, the New York State Legislature let the law providing nonprofits access to these funds lapse. According to the article, the lapsing of the law has put nonprofit plans to build several nursing homes, senior citizen apartments, libraries and schools on hold indefinitely.
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