BCW First Stop on Westchester County LDC Road Show
The BCW was the first stop on Westchester Local Development Corporation’s road show to spread the news of what they can offer to non-profits and public benefit corporations in Westchester County. Westchester County Office of Economic Development Deputy Director Bridget Gibbons explained the benefits of tax-exempt financing with the LDC and other opportunities available to 25 members of the BCW’s Not-for-Profit Council on June 14.
Gibbons said: “We are here to help – that is our message. We want non-profits and public benefit corporations in Westchester to know that the LDC supports them and the important work they are doing. Non-profits and public benefit corporations are an important part of the fabric of our County and if we can help them grow – we want to do that.”
Established in 2012, the LDC is a private, non-profit corporation created for the benefit of local government to promote economic development by providing tax-exempt financing to non-profits and public benefit corporations. Since its inception, the LDC has assisted not-for-profit organizations and public benefit corporations in securing tax-exempt bond financing benefits totaling over $800 million. LDC financed projects have created more than 1,600 permanent and construction jobs.
Along with the benefits of tax exempt financing, Gibbons also discussed the approval process and examples of projects financed by the LDC including those in healthcare, higher education, senior care and social services.
“We thank the Westchester County Local Development Corporation for presenting this highly informative program for the members of our Not-For-Profit Council. The feedback we received from those in attendance was very positive,” said BCW Executive Vice President and COO John Ravitz.
The program was attended by leaders from Westchester not-for-profit organizations, including: United Way, Girls Inc Westchester, ARC Westchester Foundation, St. Christopher’s Inc., Latino U College Access, Urban League of Westchester, Teatown Lake Reservation, Westchester Institute for Human Development, Feeding Westchester, Westchester Parks Foundation, Andrus, The Power Labs and Ability Beyond.
For more information about these programs or the Westchester County LDC, contact Westchester County Office of Economic Development Deputy Director Bridget Gibbons (914) 995-2952.
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