Agency writes off unpaid fines from Gardiner welding company

KINGSTON, N.Y. » Ulster County Industrial Development Agency officials have written off $2,100 in unpaid fees and fines by Amthor Welding Services of Gardiner as money they never expect to see.

Officials are also awaiting confirmation that bond payments have been refinanced.

The action was taken during a recent agency video conference meeting, with officials noting that it is part of a history with Amthor that has never lived up to expectations.

“The fees were $1,000 for their annual fee and then they had a $1,000 late fee because … they never reported to us for 2020 and then the $100 fee for having the CPA review the numbers, which was obviously not done because they didn’t send in the numbers to have reviewed,” agency Chief Financial Officer Rose Woodworth said.

Amthor was one of eight companies fined by the agency in 2020 for failing to submit financial documents needed for the agency’s annual filing with the New York State Public Authorities Reporting Information System.

On July 15, 2009, officials approved a $1.4 million bond for Amthor at 3.5 percent interest that is scheduled to end in 2029.

Agency officials on Monday reported that the bond had $800,270.29 remaining to be paid.

Former agency officials had touted the Amthor bonding as part of a “jobs saved” report in 2010. But in the past three years, new board members have noted those claims were unsubstantiated. The agency has reported on applicants that have not met the terms of the agreements.

“The (Amthor) project had promised 39 (full-time equivalent jobs) but the information provided shows they were only at 29.6 FTEs (representing) 75.8 percent of the promised jobs, and therefore not in compliance,” Woodworth said. “Because of this, we asked that they refinance their bond so that they would no longer be a project of ours.

Representatives for Amthor could not be reached Monday for comment.

During the meeting, officials noted that company officials have said they have reached an agreement for refinancing of the bond but confirmation had not been received.