ELMIRA, N.Y. (WETM) – The Chemung County IDA began holding a press conference on March 26, 2024 to discuss the results of yesterday's audit and the changes it says will be made.
As part of this, we have newly switched from debit cards to credit cards to purchase arena supplies. Auditors said it was easier to track spending that way. Have multiple people responsible for arena spending and accounting. There is a possibility of a consultant position to help you plan for the future.
The $500,000 in funding from the American Rescue Plan will go toward infrastructure improvements and equipment. IDA hopes to sell the arena within the next three to five years.
I had the opportunity to ask Chemung County IDA Chairman Mark Margeson about the results of the audit.
Will the results of the audit be made available to the public?
“Yes. It will eventually be posted on the website,” Margeson said.
Will hockey return to First Arena next season?
“Next season, the hockey world will return to First Arena. We are currently working to negotiate a fair and reasonable opportunity for both parties,” Margeson said.
Margeson then called IDA executive Joe Roman to the podium to answer the next question.
Is IDA funded by people's taxes?
“No, this funding is primarily funded by fees incurred when considering and implementing development projects. That is IDA's main source of income,” Roman said.
I asked Mr. Roman whether some of IDA's funding comes from American Rescue Plan funds. That's federal taxpayer money.
“As Mark said, we have used ARPA funds for some small improvements we have made in the past. As Mark also said, there is funding available from the county to do additional work here. It could be federal funding,” Roman said.
“I've always said there are three options. Option one is to knock it down. Option two is to leave it alone. Option three is to figure out how to move it forward. It’s about finding out.”
