Tuxedo Farms Local Development Corporation

The Tuxedo Farms Local Development Corporation (the "Corporation") is a charitable corporation as defined in Section 201 of the New York Not-for-Profit Corporation Law. The Corporation serves as a supporting organization for, but operates separate and apart from the Town of Tuxedo, New York (the "Town"). The Corporation was formed and operates exclusively for charitable purposes. Such purposes include relieving and reducing unemployment, to promote and provide for additional and maximum employment, to improve and maintain job opportunities, and to lessen the burden of government and act in the public interest.

In furtherance of the Corporation’s charitable purposes, the Corporation’s powers include, but are not limited to fostering the creation, retention and expansion of jobs and economic opportunities; executing and issuing negotiable bonds; and entering into covenants and agreements and otherwise carryout its corporate purposes.