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Town of Amherst Development Corporation

Profile

Last Updated: 2016-02-07

At A Glance

Town of Amherst Development Corporation

4287 Main St.

Amherst, NY United States 14226-3504

Telephone: (716) 688-9000

URL: www.amherstida.com/DEVELOPMENT-CORPORATION

Type of Grantmaker

Independent foundation

Financial Data

(yr. ended 2014-12-31)

Assets: $76,572

Total giving: $0

EIN

222867364

BRIDGE Number

6368275701

Background

Established in NY

Purpose and Activities

The organization makes loans to growth-oriented manufacturing firms in Amherst, New York.

Program Area(s)

The grantmaker has identified the following area(s) of interest:

Program-Related Investment

Historically, the Corporation participates in making loans to growth-oriented manufacturing firms located in the town of Amherst through the Buffalo and Erie County Regional Development Corporation (RDC). The Town of Amherst Development Corporation participates in the loan in the range of 25 percent of the RDC approved amount. Interest is charged on the loans based on negotiations between the Town of Amherst Development Corporation and the potential borrower. Factors considered are the potential borrower's ability to repay, credit ratings, number of jobs created, and the potential for future expansion within the geographic area. The current minimum rate that is charged is 6 percent and the maximum is 12 percent.

Fields of Interest

Subjects
  • Community and economic development

Financial Data

Year ended 2014-12-31

Assets: $76,572 (market value)

Expenditures: $525

Total giving: $0

Qualifying distributions: $0