Friday, 20 October 2017

Finance Committee

Patrick Ida- Chair

Pam Nolan

Scott Hearburg

Financial Statements

ASSESSMENT OF INTERNAL CONTROLS

TRA conducted a formal process to assess the effectiveness of its internal control structure and procedures. This is documented in the attached audit documents. Internal controls were found to be adequate and fully compliant.

PAAA Filings

As a local development corporation, the Alliance is considered a public authority subject to the Public Authorities Accountability Act of 2005, as amended by the Public Authorities Reform Act of 2009  (collectively, the “PAAA”)  and operates in compliance with the Freedom Of Information Law (FOIL) and the Open Meetings Law (OML).  In accordance with PAAA, the Alliance has submitted the following reports to the Authorities Budget Office:

 

Ti-Alliance

Mission Statement

Ti-AllianceLOGO PROSPERITY-03-1b

The Ticonderoga Revitalization Alliance is a not-for-profit local development corporation whose mission is to help restore economic prosperity in the Ticonderoga region by serving as a catalyst for public-private partnerships and investment opportunities.

Ticonderoga Today

The Ti-Alliance aims to help create a new prosperity in Ticonderoga and to reverse the current downward spiral facing our area. For a town of just over 5,000 people, Ticonderoga has great resources. Anchored by Fort Ticonderoga, Ticonderoga is a key historical location for the USA and Canada. Nestled in the Adirondack park, a 6 million acre area of the oldest mountains in the U.S. Ticonderoga has an abundance of natural beauty. With its location amidst rivers and mountains, and sitting between two of the most famous lakes in the country, Ticonderoga is a year-round outdoor paradise. The school system is ranked among the highest in the nation and the Community College offers further education in a range of subjects. With the presence of businesses like Wal-Mart and Rite Aid, Ticonderoga is poised to become an important regional economic hub.

While enormous potential exists in Ticonderoga there are still many problems to be adequately addressed. Many of the buildings in our downtown lie vacant or underutilized. Median incomes are low, and a quarter of the citizens receive some form of poverty assistance. There is a need for new businesses and jobs, especially those using newer skills.

TRA's Priorities


In this context, TRA aims to take proactive and aggressive action to not only combat these issues, but to also help revitalize Ticonderoga back to the regional landmark that it once was. TRA combines four critical priorities into a single, unified vision:

  1. Encourage economic growth – Attract new businesses and support existing ones, rehabilitate/create new uses for existing buildings, increase employment opportunities and workforce skills, and develop creative approaches to investment and finance.
  2. Strengthen tourism, arts, and entertainment - Increase the number of new visitors to the area and draw more of the current ones to the downtown area and to the range of activities and attractions in the area. Help further strengthen the arts and entertainment opportunities in the area, especially year-round opportunities that promote economic growth.
  3. Create and strengthen partnerships - Encourage a higher level of interaction between key actors such as the government, business community, Fort Ticonderoga, North Country Community College, and various organizations that are currently in place, to help improve the economic vitality and well-being of the area.
  4. Improve the quality of life – Support efforts to enhance the overall well-being of the area, in sectors such as health, education, housing, transportation, energy, and parks and recreation. Building such a strong social foundation will also promote job creation and higher quality employment opportunities, and help retain youth in the area, which is a TRA priority.

Any of these might happen alone but this vision of a new prosperity can only be fully achieved by partners interacting in a unified way. Only then will Ticonderoga achieve true and long lasting prosperity!

The Ti-Alliance is governed by a Board of Directors. Directors are nominated for service by the current Board members, and then appointed by the Town Supervisor, with the confirmation of Ticonderoga Town Board.

As a Local Development Corporation, the Alliance is considered a public authority subject to the Public Authorities Accountability Act of 2005, as amended by the Public Authorities Reform Act of 2009 (collectively, the “PAAA”) and operates in compliance with the Freedom of Information Law (FOIL) and the Open Meetings Law (OML).

The Ticonderoga Revitalization Alliance is a not-for-profit local development corporation whose mission is to help restore economic prosperity in the Ticonderoga region by serving as a catalyst for public-private partnerships and investment opportunities.

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The Ticonderoga Story

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