IDA is no longer in the business of promoting Cuba—at least from a paid advertising standpoint.

The Industrial Development Authority’s board of directors informed the city by email on Oct. 22 that it cannot continue to buy advertising due to shortages in its current budget.

Norm DeLeo, IDA director, told Alderman Les Murdock, the city’s liaison to the IDA Board, that the board would not purchase any further advertisements in trade magazines or other media sources “until the financial situation improves. The IDA promotes and attracts business and industry to the City of Cuba, resulting in income and utilities, taxes, etc., which naturally flow into funding for city operations, not the IDA. If the city wishes to continue to promote Cuba as a good place to do business, work and live, the IDA would continue to use our media outlets but the city would be responsible for the bills.”

DeLeo also said the IDA would eliminate and minimize expenses whenever and wherever that is possible.

Murdock relayed the information to the full council on Nov. 2. “We all realize (the IDA is) having funding difficulties, because their funds are drying up,” he said. They are continuing to look for new sources of income and “in the meantime they are going to stop paying for advertising.”

The IDA has already found a tenant to occupy half of its 10,000 square foot building in the industrial park, which was vacated by Johnson Controls. It will be used for temporary storage for three to six months.

A second tenant was said to be moving into the other half of the building, which could be for an extended occupancy of “a couple of years or longer, and they hope to need the entire building in the near future,” explained DeLeo.

Mayor Kenny Killeen told the council, “I do think the IDA is essential for the growth of Cuba, and we need to look at doing something to keep that functional.”

After hearing Murdock’s report on the IDA, the council took no action at the meeting.