Tompkins County Development Corporation
The primary mission of the Tompkins County Development Corporation (TCDC) is to promote economic development initiatives in Tompkins County by offering tax-exempt bonding opportunities to not-for-profit organizations.
The TCDC was established, at the request of TCAD, by the Tompkins County Legislature in 2010 to serve as a conduit to the tax-exempt bond market for local not-for-profit employers. While no credit enhancement is offered by the TCDC or the County, bonds issued by the TCDC provide lower interest rates than conventional financing.
The establishment of the TCDC recognizes the critical role not-for-profit employers play in the local economy. The TCDC mirrors the TCIDA in fundamental polices, procedures, and board membership.
“We have worked with TCAD on several large scale projects critical to the future of Cayuga Medical Center. The support they provided, guiding us through the complex tax exempt financing process, was invaluable. It is a very effective organization, a true asset to the community.”
John Rudd, President & CEO
Cayuga Medical Center
“TCAD has been instrumental to Ithaca College in providing fast and efficient access to the tax exempt bond market. The college has sold more than $80 million in bonds in the last year, a portion of which involved refinancing existing debt at substantial savings. The staff at TCAD is very professional and the organization is a tremendous asset to the Tompkins County economy and the community at large.”
Carl Sgrecci, Retired Vice President of Finance