New Orange County IDA Board fires management company

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GOSHEN – The new Board of the Orange County Industrial Agency has abruptly terminated the organization’s contract with the Gallileo Technology Group and its managing director Vincent Cozzolino.

At a special meeting on Tuesday evening, without discussion following an executive session, the new board voted to terminate its contracts to operate both the IDA and its Accelerator program with its total annual price tag of $438,000. That included management of the Accelerator program for 80,000, plus $72,000 each for the Middletown, Newburgh/New Windsor, Warwick, and Highland Falls accelerators. There was also a $125. per hour fee, up to $300,000, for the Accelerator Without Walls Program.

IDA Chief Executive Officer Laurie Villasuso, who has been an employee of Gallileo, will remain on in her capacity.

The board also appointed County Attorney Langdon Chapman to oversee all other IDA attorneys at no charge and the board brought on County Economic Development Director William Fioravanti, at no cost, to oversee the staff and management of the IDA.

The county legislature recently fired the entire former IDA board and replaced it with new members over a dispute about agency financial disclosures.

The county district attorney’s office is also conducting an investigation into the IDA’s spending practices.