The Legislature’s Planning, Development, and Environmental Quality today recommended that the Legislature adopt recommendations of a broad-based task force regarding county funding to address an ongoing structural deficit for Tompkins County Area Development (TCAD). By unanimous vote, the committee backed the recommendation of the TCAD Funding Task Force that the County enter into a multi-year funding agreement with TCAD to ensure a “sustained and balanced funding strategy” for TCAD.
Acknowledging TCAD’s ongoing value to the County in providing a strong, proactive economic development program, the task force supports continuation of a TCAD revenue structure where one- third of revenue comes from the County, one-third from employer investors, and a one-third from project fees, with increased County support coming, in part, from county Room Occupancy Tax revenues, beginning next year.