West 070813

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YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS | westfaironline.com

July 8, 2013 | VOL. 49, No. 27

spAce scArce For tAx-Free Zones

INSIDE

By JOhn GOLDen jgolden@westfairinc.com

TOURISM PARTNERS• 3

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UNY Purchase President Thomas J. Schwarz might have his summer homework cut out for him after a bills-cramming session in Albany last month gave Gov. Andrew Cuomo his aggressively pursued tax incentives program for businesses, START-UP NY. That’s the short title for the governor’s campus-focused jobs initiative and hurriedly enacted legislation, SUNY Tax-Free Areas to Revitalize and Transform Upstate New York. Schwarz, as well as Westchester Community College President Joseph Hankin and other academic leaders across the state, have a challenging task ahead this year: How do you hang out the “Welcome to Our Tax-Free Zone” sign on your campus for profit-seeking partners when a “Sorry, No Vacancies” sign would not be out of place there? With 120 million square feet of space eligible for the tax-free zones statewide, it’s a potential office-space dilemma and opportunity that commercial real estate brokers and business groups in

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sweat equity

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Tax-free, page 6

rethinking nonprofits Bill targets red tape, embraces email

By BiLL FaLLOn bfallon@westfairinc.com

uNDER TERMS of A BILL that passed both chambers of the state Legislature in June, New York state nonprofits could incorporate, dissolve and merge more easily; communicate and hold meetings using modern technology like videoconferencing; and enter transactions without having to go to court. An inability to perform those and other tasks led to a two-year effort by the state attorney general’s office, working with the nonprofit sector, to eliminate red tape for nonprofits in

some arenas and to add oversight in others. Gov. Andrew Cuomo is reviewing the legislation. The bill, the Nonprofit Revitalization Act, also would streamline procedures for nonprofit mergers, property sales and corporate dissolutions, “so that funds needed for ongoing charitable programs are not wasted on unnecessary red tape,” Attorney General Eric Schneiderman said. And it would modernize laws to allow nonprofits to use email and video technology for meetings and allow boards to delegate the approval of small transactions to committees. Rethinking, page 6

MANAGING WEALTH • 21


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