A.
The Economic Development Zones Program was created by New York State in 1986 to stimulate economic growth in a number of the state's most severely distressed areas.
B.
The Economic Development Zones Program encourages business development in designated areas by offering new and expanding businesses a combination of tax credits, reduced utility rates, authorization for special low-interest loans and priority attention from state agencies that have a role in economic development.
C.
A locality with jurisdiction for a zone will be required to promote and facilitate the development of new businesses and the expansion of existing businesses in the zone.
D.
Working through a local zone administrative board, the locality is expected to achieve these goals by enlisting the active support of local industrial development and public finance agencies.
E.
The zone administrative board is expected to cooperate with local social service agencies, educational institutions, community-based organizations, labor unions and other bodies to establish, implement and coordinate job-training programs and other forms of assistance to ensure that unemployed, needy people in the local area will be able to fill jobs made available in the zone.
F.
The City of Binghamton, on behalf of the County of Broome, the Town of Union, the Villages of Endicott and Johnson City and herself, intends to submit an application to have an area within the respective municipalities designated as an economic development zone.
G.
The City of Binghamton has requested that the Town of Union consent to the establishment of the aforementioned economic development zone.
H.
The Town of Union's consent to the establishment of the economic development zone will require the Town of Union, in conjunction with the aforementioned municipalities, to provide certain real property tax benefits.
