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Links Roundup – Inside New York State Edition

October 24, 2013

From the Rochester Democrat and Chronicle

Questions about investigations into LDCs answered

Gary Craig and David Riley :: 6:50 p.m. EDT October 21, 2013

The current investigations into corporations tied to Monroe County sound more like a helping of alphabet soup than a political scandal of any significance. But hundreds of millions of dollars of taxpayer money — and questions of whether it is being spent properly — are at the core of the controversy.

That said, the investigation is admittedly confusing. With that in mind, here are answers to some of the questions that are commonly asked.

More: Dan Lynch, key player in LDC inquiry, accused of stealing from county project 

What is an LDC?

A local development corporation, or LDC, is a private nonprofit company, usually established to handle public projects. They have their own governing bodies and rules, though they are quasi-governmental in nature. Local governments typically help create and then use LDCs because they see them as a vehicle for significant cost-savings. As state Comptroller Thomas DiNapoli has noted in reports, “LDCs generally are not subject to the same requirements and procedures as local governments with respect to borrowing, procurements and certain other matters that relate to implementing a capital project.”

Who is investigating them and why?

There are two investigations into Monroe County LDCs — one by the New York Office of the Attorney General and the other by the FBI. (The FBI has not discussed its investigation, but officials with the LDCs have acknowledged the probe.) The Attorney General’s Office in late July impaneled a grand jury for up to six months to consider whether individuals connected to the LDCs have broken laws.

The investigations are the offspring of work by DiNapoli’s office, which has been particularly critical of LDCs here and elsewhere in the state. While the comptroller has acknowledged the benefits of LDCs, he has concluded in numerous audits that they too often operate out of the public eye and can be hotbeds of favoritism in the awarding of contracts. “There’s no way for taxpayers at the end of the day to be assured their money is being used properly,” Brian Butry, a spokesman for the comptroller’s office, said recently. 

What are the different LDCs used by the county and what do they do?

Central to the investigations are two LDCs created under the administration of County Executive Maggie Brooks. The county established Upstate Telecommunications Corp., or UTC, in 2004 to upgrade and maintain county computer and phone systems. In 2009, Monroe Security and Safety Systems, also known as M3S, was launched to improve public safety radio and security systems. The operations of both have been criticized by DiNapoli in audits. Other LDCs established by current and past county administrations are the Civic Center Monroe County LDC, which maintains and operates the Civic Center garage; the Monroe Tobacco Asset Securitization Corp., set up to give the county an infusion of cash by issuing bonds and buying rights to the county’s expected share of a major settlement among tobacco companies and states; Monroe Newpower Corp., which provides power to county facilities; and the Renaissance Square LDC, created for the downtown project — one combining a public transit bus garage, performing art center and Monroe Community College campus project — that was never built. County officials have contended that the LDCs have saved taxpayer millions, while DiNapoli has claimed in some audits that weak oversight with some has cost residents. 

Who’s been criminally charged?

Daniel Lynch, 50, of Chili, a former sales executive at Siemens Building Technologies. UTC contracted the Rochester company to manage its project for the county. Lynch worked for Siemens for 13 years and left in March 2009, according to a statement from the company. He left to help form Navitech Services Corp., a company created by former Siemens employees that went on to work on two major LDC contracts, as well as his own company, Treadstone Development Corp., the state Comptroller’s Office said in an audit last year. Lynch was charged in an indictment unsealed Tuesday with second-degree grand larceny and two counts of first-degree falsification of business records. 

What did Lynch allegedly do?

First, some backstory. One of UTC’s responsibilities was upgrading and maintaining the county’s copy machines. It contracted with another company, Toshiba Business Solutions, for the job. Fast forward to 2008, when a Toshiba employee, who is not named in the indictment, and Lynch allegedly decided to rent a hospitality “chalet” tent at the PGA Championship at Oak Hill Country Club in Rochester. They allegedly agreed that their employers would split the $100,000 cost, but there was a problem: Siemens would not allow that type of entertainment expense, the indictment says. Lynch and the employee are accused of coming up with an illegal solution: To have Toshiba submit false invoices totaling $75,000 to Siemens that looked as if they were legitimate expenses for the copier project, when in fact the money would be used to pay for the tent. Other false documents, including business records of UTC and Siemens, were used to mask the true purpose of the money, according to the indictment. 

How was the money Lynch allegedly stole public money?

Attorney General Eric Schneiderman made a point in a statement he issued on Lynch’s indictment that the charges involve theft from a publicly funded entity. LDCs do receive public funds — the county’s 16-year contract with UTC totals about $99.2 million, though county leaders insist that the project saves taxpayers money. While the indictment does not explicitly say so, the cost of false invoices in a county copier project left taxpayers footing the bill.

 What do Siemens and Toshiba have to say about this?

Not much. Toshiba spokesman Rick Havacko said his company is cooperating with the Attorney General’s Office, but does not comment on pending legal matters. Alison Lewis, a Siemens spokeswoman, said in a written statement that the company is aware of Lynch’s indictment and that it too has cooperated with the Attorney General’s Office. The charges against Lynch deal with one specific incident. Is the investigation looking at other possible issues with LDCs? Yes. While the scope of the charges against Lynch is narrow, investigators have seized thousands of pages of documents from multiple locations and reportedly are looking more broadly at allegations of bid-rigging and preferential treatment with LDCs.

What are Lynch’s connections to LDCs and the county?

Lynch has been a key player in LDCs and the companies that work for them for years. An audit from the Comptroller’s Office last year said he worked for Siemens during the creation of Monroe Newpower Corp., an LDC that was created in 2002 and contracted with Siemens for a project involving a county power plant. Minutes of meetings of the UTC board from 2006 through 2008 also frequently listed Lynch as an attendee. Lynch and his company, Treadstone, have been well-paid through LDC projects. A comptroller’s audit of M3S said Treadstone received $822,000 in consulting fees from January 2010 to Sept. 30 from Navitech, and Lynch was paid $369,000 directly. Annual reports from UTC for 2009 to 2011 also list about $175,000 in payments to Treadstone in those years, though it is not clear if they are related to or separate from the money mentioned in the comptroller’s audit. Lynch also has been generous in campaign donations to county and state candidates. From 2005 to 2011, he donated at least $41,000 to the Monroe County Republican Housekeeping Committee, and from 2006 to 2010, a little more than $12,000 to County Executive Maggie Brooks’ campaign account, among other recipients, according to state campaign finance records. It is clear Lynch has been generous in other ways, too. He and his wife, Karen, founded the Generosity Store on South Goodman Street in Rochester. Its sales benefit Golisano Children’s Hospital and the School of the Holy Childhood, whose president and CEO, Donna Dedee, said the store gave students an outlet to sell goods they make at the school and valuable work experience. “We found their entire family to be incredibly generous and innovative,” Dedee said of the Lynches last week.

Has anyone in county government been implicated?

No. Nelson M. Rivera, a county official closely tied to LDCs, resigned earlier this month, but he has not been accused of doing anything wrong. However, Rivera, who was the county’s chief information officer, has retained a criminal defense attorney. Rivera filed a formal defense of the UTC contract when the Comptroller’s Office questioned it in a 2011 audit. County Democrats have questioned if he had a conflict of interest in the selection of Navitech for the M3S contract, noting the company listed him as a reference while he also sat on a selection committee for the contract. The county has contracted with former U.S. Attorney and former state Attorney General Dennis Vacco for legal assistance with the LDC investigation. Vacco, now in private practice in Buffalo, has not returned calls for comment. The Monroe County Water Authority also has retained the law firm Burke and Burke.

Are more indictments likely?

Yes. Even Lynch’s attorney, Michael Schiano, said more indictments are expected. When Lynch was arraigned, Schiano noted in court the expectation of “other (indictments) that will be coming down the line in the next few weeks.” And sources knowledgeable about the investigation have told the Democrat and Chronicle the same thing. Predicting who will be indicted is a crapshoot, and unsurprisingly, rumors are hot and heavy in political circles. At least 15 local lawyers have been retained, but that does not mean that many people are likely to be charged. Some of those hiring lawyers are people involved with the LDCs who have testified or will testify before the grand jury and want legal advice and assistance.

In a typical investigation, prosecutors and authorities would look for someone with knowledge of malfeasance, if, in fact, any occurred. It’s likely prosecutors with the Attorney General’s Office are doing just that, hoping someone can provide helpful information that clears up the unquestionably murky picture about the LDCs.

http://www.democratandchronicle.com/story/news/local/2013/10/19/questions-about-investigations-into-ldcs-answered/3072543/

Authorities Budget Office

October 22, 2013

The Authorities Budget Office (ABO) is undertaking a series of reviews of selected local development corporations (LDCs) across the state to better understand the public purposes for which each LDC was formed, and to gain insight as to how these corporations function and expend public funds. These reviews will also increase public awareness of the operations of LDCs.  The ABO has completed its limited scope review of the City of Kingston Local Development Corporation (KLDC).  The report concludes that much of what KLDC does is consistent with its statutory purpose, however it has also taken on projects and activities that are city functions.  The final report is posted on the ABO web site and available to the public at: www.abo.ny.gov.

Authorities Budget Office

September 25, 2013

The Authorities Budget Office has completed its operational review of the Capitalize Albany Corporation.  information is a copy The final report is posted on the ABO website and available to the public at: www.abo.ny.gov

Links Roundup – Inside New York State

September 23, 2013

 Public Authorities:

‘A culture of arrogance’ New York Post

Public authorities were created by political reformers in hopes of walling off vital services from political pressures. Unfortunately, that has also walled them off 

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Local Development Corps:

Donnery calls for creation of LDC to sell Camp LaGuardia property Mid-Hudson News

terminate its contract to sell the former New York City men’s homeless shelter Mountco development company and create a local development corporation 

See all stories on this topic »

Industrial Development Authorities:

Winner: Lewis Yevoli Newsday

He also has chaired the Nassau County Planning Commission, headed the county’s Industrial Development Agency, and served nine terms as a New York State 

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Push on for more steel work in Lackawanna WKBW-TV

a package being crafted by the Erie County Industrial Development Agency. “The days of steelmaking in Western New York are not dead,” Poloncarz said.

See all stories on this topic »

Candidate Johnson promises new economic development director Evening Observer

In June 2006, for example, the New York State Department of Labor reported per job gained than did the Chautauqua County Industrial Development Agency.

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Steelmaker picks Buffalo for new $102M plant Business First of Buffalo

to be approved by the Western New York Power Proceeds Allocation Board, the Erie County Industrial Development Agency, Buffalo Urban Development 

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Development agency approves $100000 loan, $12500 grant for Syracuse.com

Syracuse, NY — The Onondaga County Industrial Development Agency voted Syracuse Business Development Corp. and the Central New York Enterprise 

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Rail relocation project in western New York revitalizes former Railway Track & Structures

The Erie County Industrial Development Agency (ECIDA) served as the project and construction manager for the project. New York State Department of 

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JCIDA board mulls building office facility outside Watertown WatertownDailyTimes.com

on Starbuck Avenue for the Jefferson County Industrial Development Agency north of the entrance to New York Air Brake, move into a $365,000 expanded 

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Rail relocation project in western New York revitalizes former Railway Track & Structures

The Erie County Industrial Development Agency (ECIDA) served as the project and construction manager for the project. New York State Department of 

See all stories on this topic »

JCIDA board mulls building office facility outside Watertown WatertownDailyTimes.com

on Starbuck Avenue for the Jefferson County Industrial Development Agency north of the entrance to New York Air Brake, move into a $365,000 expanded 

See all stories on this topic » 

Links Roundup – Inside New York State Edition

August 19, 2013

 

Mayor approves FreshDirect’s Bronx facility, releasing subsidies New York Business Journal

Late last month, FreshDirect received approval from New York City’s Industrial Development Agency to operate a distribution facility in the South Bronx. Now 

Tax break granted to Falls hotel project Niagara Gazette

Members of the Niagara County Industrial Development Agency on Wednesday High-wire artist Nik Wallenda is returning to Western New York, but he’ll be 

Kevin McLaughlin named Executive Director of the Broome County Industrial
WBGH
The Broome County IDA is a not-for-profit public benefit corporation chartered by the State of New York that promotes economic development in Greater Binghamton. The IDA owns and manages the 600 acre Broome Corporate Park in Conklin, and more than 1.2

Suffolk IDA Announces Photonics Industries to Expand
LongIsland.com
July 8th, 2013 – Hauppauge, NY – Suffolk County Executive Steve Bellone is proud to announce that Photonics Industries International, Inc. will be expanding their operations in Suffolk County in conjunction with the Suffolk County Industrial

TEXT – Fitch affirms New York City’s AA-minus appropriation debt
Reuters
July 9 – Fitch Ratings affirms its ‘AA-’ ratings on the following debt for which New York City, NY is the obligor: –New York City Industrial Development Agency (IDA) approximately $62.6 million special revenue bonds (New York City-New York Stock

Locals throw tomatoes at FreshDirect Bronx relocation
The New York World
Schmid said that the judge hearing the community lawsuit “properly found that the New York City Industrial Development Agency’s environmental review of Fresh Direct’s relocation to the Harlem River Yard was conducted in accordance with law and properly 

GE Oil & Gas Celebrates Expansion of Lufkin-RMT Operation in Wellsville, NY
Wall Street Journal
Support for the new facility came from a package of incentives from the Allegany County Industrial Development Agency (ACIDA) and Empire State Development Corp. (ESD) valued at $850,000 over a 10-year period. The New York State Excelsior Jobs 

Cuomo Says More Needs to Be Done About Public Authorities
WGRZ-TV
2 On You Side took the opportunity to ask the Governor about a recent report that 574 public authorities’s in New York state increased their debt 19 percent over the past five years and created 1,642 fewer jobs than they estimated. Eighteen authorities

ABO report contains data on GCEDC’s work and staff compensation
The Batavian
The Authorities Budget Office has released an annual report, along with several spreadsheets, that contain a range of data about the state’s multitude of public authorities, including industrial development agencies, such as GCEDC. Here’s what the

Moneylife » Activists fear Ordinance soon to keep political parties out of RTI
Moneylife
the National Campaign for the Peoples’ Right to Information (NCPRI) steered by Nikhil Dey and Anil Bahirwal, the RTI petitioner who along with Subhash Agrawal had filed the series of RTI applications in the Income Tax and other relevant public

Underground Garage to Help Pay for New Park in Brooklyn
New York Times
But the image loosely fits a new deal to construct Willoughby Square, nonprofit local development corporation that will oversee the park’s maintenance.

UPDATED: Report lays out RGRTA bonuses
Rochester City Newspaper (blog)
A new report from the state’s Authorities Budget Office makes a big point of highlighting employee bonuses at state and local quasi-governmental authorities. For the most part, the authorities and local development corporations in Monroe County say

ABO report measures local IDAs
The Daily News Online
Genesee County’s industrial development agency is projected to help create more jobs than any other local IDAs in the state outside of the New York City area, a new state report finds. Genesee County also had among the largest staff and payroll

Labor – backed coalition blasts IDAs for lack of jobs
Albany Times Union
The Getting Our Money’s Worth Coalition released a new analysis of the latest Industrial Development Agency (IDA) data today, which shows widespread failure of New York’s main local economic development tool to create jobs. Highlights of the analysis 

Brooks: COMIDA leads NY in projects, jobs in ’12
Rochester Business Journal
A report released this week by the state Authorities Budget Office shows the County of Monroe Industrial Development Agency is a pace-setter in economic development, Monroe County Executive Maggie Brooks said Thursday. COMIDA led New York’s IDAs 

COMIDA led state in approving projects for tax breaks, jobs
Rochester Democrat and Chronicle
In 2012, the County of Monroe Industrial Development Agency approved a property tax abatement for the reuse of the former Seneca Building for Windstream Communications Inc. / Provided rendering COMIDA last year approved 33 new projects, more than

Greenburgh approves program to save energy, spend less
Westfair Online
The Greenburgh Town Board approved a new program that allows a local development corporation to provide funding for property owners who plan to use more

A starting point
Rochester Business Journal
Since 2007, the state Authorities Budget Office each year has issued an annual report on the finances and activities of New York’s 574 state and local authorities. But for the first time the ABO this week broadened the scope of its report to include a

Photonics Industries Expanding on Long Island
Photonics.com
ISLIP, N.Y., July 15, 2013 — Photonics Industries International Inc. will expand its operations in Islip and add 40 new jobs, Suffolk County Industrial Development Agency CEO and Executive Director Anthony Manetta announced last week. Photonics

Cummins Receives Solar Energy Funding
Jamestown Post Journal
we are excited about the future of renewable energy in the Western New York area and across New York state.” The partnership between Solar Liberty and Cummins came about with help from the County of Chautauqua Industrial Development Agency.

Baseball expenses take bite out of OLDC budget
Buffalo News
the Olean Local Development Corporation is operating in the red after paying From that amount, a $12140 payment to the New York Collegiate Baseball

New York Public Authorities Add $23.8 Billion in Debt
CNY News
The Eyes of New York, Flickr. A new report shows New York’s public authorities have added billions of dollars in debt over the past five years and had a balance of $151 billion at the end of 2012. The 45 state public benefit corporations, established

Report shows $151B debt by NY public authorities
Troy Record
Published: Tuesday, July 16, 2013. By Michael Virtanen The Associated Press. ALBANY — A new report shows New York’s public authorities have added billions of dollars in debt over the past five years and had a balance of $151 billion at the end of 2012.

CPI got over Rs.3 crore funding, shows RTI
Zee News
The disclosure comes after last month’s Central Information Commission (CIC) order that political parties are public authorities and need to respond to Right to Information queries within six weeks. Replying to a query filed by RTI activist Subhash

Tips To Avoid Heat Illness
Fox17
Use air conditioning or spend time in air-conditioned locations, when possible. Public authorities may set up cooling centers in your area to provide air-conditioned locations. Check with local authorities for more information, including city and

Inner Harbor development project still on the horizon
NewsChannel 9 WSYR
The developer is moving the project through its next phase and took an important step on Tuesday with the Syracuse Industrial Development Agency, which is overseeing the project. Officials and Central New York residents have always wanted development 

Yankee Stadium Parking Bonds Get IRS Audit Following Default
Bloomberg
Bronx Parking issued tax-exempt bonds in 2007 through New York City’s Industrial Development Agency to build three garages and renovate two others. The structures haven’t generated enough revenue as more fans take public transportation to the Major 

Successful Start-Up of the Greenpac Containerboard Mill
Sacramento Bee
of this project, namely Metso, the State of New York, the Empire State Development, the City of Niagara Falls, The Niagara County Industrial Development Agency, the New York Power Authority, and the New York Department of Environment Conservation.

Suffolk judicial facilities agency now compliant
Newsday
The Suffolk County Judicial Facilities Agency is now in compliance with state laws governing public authorities, agency officials said. The new status was granted Friday after the state Authorities Budget Office had cited the Suffolk County Judicial

Mercy Health Muskegon, state officials urge summer heat awareness
Muskegon Chronicle – MLive.com
Public authorities may set up cooling centers in your area to provide air-conditioned locations. Call 211 or check with local authorities for more information, including city and county websites. • Use a fan when the windows are open or the air

Fitch Affirms NYC Industrial Development Agency Revs (Terminal One Group
Fort Mills Times
Fitch Ratings affirms the ‘A-’ rating on $277.595 million New York City Industrial Development Agency’s special facility revenue bonds, series 2005 (Terminal One Group Association, L.P. Project; TOGA). The Rating Outlook is Stable. The rating reflects

IRS investigates New York’s Yankee Stadium parking garage bonds
Reuters
The review is “to determine compliance with the Federal tax requirements,” the filing said. The Civic Facility Revenue Bonds were issued by New York’s Industrial Development Agency in 2007 on behalf of the Bronx Parking Development Company.

UPDATE 1-IRS investigates Yankee Stadium parking garage bonds
Reuters
The Civic Facility Revenue Bonds were issued by New York’s Industrial Development Agency in 2007 on behalf of the Bronx Parking Development Company. Bonds maturing in 2037 last traded at 44.19 cents on the dollar on July 2, according to Municipal 

First A Default, Now An Audit For Yankee Stadium Bonds
Barron’s (blog)
The idiosyncratic nature of defaults in the muni market is demonstrated by the $237.6 million of tax-exempt Civic Facilities Revenue bonds issued in 2007 by the New York City Industrial Development Agency for the Bronx Parking Development Co., the 

Missouri Authorities Awarded $1.6 M To Redevelop Brownfields
St. Louis Public Radio
The Environmental Protection Agency (EPA) announced this week that it has selected public authorities in St. Louis, Springfield and Jefferson City, to receive the funding as part of its $15 million supplemental revolving loan funds (RLF). Each agency

Editorial: State must keep better tabs on authorities
Poughkeepsie Journal
Trouble is, the state still has hundreds of public authorities, and many of them are operating in the shadows and increasing the state’s debt without voter approval. Just look at the numbers. State Comptroller Thomas DiNapoli has noted that in 1985

New York Cost at 20-Year Low as Cuomo Debt Declines: Muni Credit
Businessweek
Even as issuance of state general-obligation debt has slowed, the amount of bonds offered by the state’s 45 authorities has risen 18.6 percent since 2008, according to a report released this month by the Authorities Budget Office, which has oversight…

Living wage law beats expectations, backers say
Crain’s New York Business
In a subsidy application Delta Airlines submitted to the New York City Industrial Development Agency, however, the company stated that it already pays an average of $57,000 per year to nearly 6,000 full-time employees at the site, a sum far above the

Despite Community Opposition, NYC Industrial Development Agency Votes to
Mobilizing the Region (blog)
This morning, the New York City Economic Development Commission’s Industrial Development Agency (NYCIDA) board of directors approved a motion that allows Fresh Direct to relocate from its current location in Queens to Harlem River Yards in the South 

7 named to Summit Park local development corporation
The Journal News / Lohud.com
Under the law adopted to create the local development corporation, earlier was assistant director of operations at New York Health and Hospital Corp.

Summit Park LDC board members named
Inside Rockland
In April, the County created a Local Development Corporation or LDC for the purpose of Other counties in New York State have encountered difficulties in

Rockland County names 7 members of Summit Park’s LDC
The Journal News / Lohud.com
NEW CITY — Rockland County has released the names of the seven members of the local development corporation that will determine the future of Summit Park

City approves FreshDirect subsidy The New York World

The New York City Industrial Development Agency on Tuesday approved a package of subsidies that will help move the facility for the grocery-delivery giant 

NYC Panel Backs $87M Funding For FreshDirect’s Bronx Move Law360 (subscription)

Law360, New York (July 24, 2013, 6:10 PM ET) — New York City’s Industrial Development Agency voted Tuesday to approve $87 million in city backing to 

Living wage law is building a better New York Amsterdam News

The New York City Industrial Development Agency, the agency directly responsible for assisting new economic development projects with taxpayer support, has 

IDA grants tax incentives for Edwards Avenue development Riverhead LOCAL

The Riverhead Industrial Development Agency today approved tax where Allied Building Products Corp. plans to open its 12th New York location next year.

Fitch Affirms Institute of International Education (New York) Revs at Fort Mills Times

Fitch Ratings affirms the ‘AA-’ rating on $13.5 million of outstanding New York City Industrial Development Agency civic facility revenue bonds (Institute of 

DiNapoli releases report on New York Power Authority Niagara Frontier Publications

According to DiNapoli’s March 2013 “Public Authorities by the Numbers” report, public authority debt has jumped to nearly a quarter of a trillion dollars, as New 

 

Links Roundup – Inside New York State Edition

June 24, 2013

Anthony Weiner demands New York City’s independence from public authorities
Capital New York
The former congressman, who’s running a surprisingly successful campaign for mayor, said today that he wants to reform the public authorities that govern so much that is integral to New York City. Take, for example, the Metropolitan Transportation
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CB9 calls for audit of Columbia’s Manhattanville commitments
CU Columbia Spectator
“We are demanding that the state of New York and the city of New York enforce the is being used—the West Harlem Local Development Corporation awarded $2

Troy Bomber’s Burrito Bar to feature outdoor dining patio
Troy Record
Planning and Economic Development Commissioner Bill Dunne said he believes they would receive funds from the New York Business Development Corporation

Saratoga County Industrial Development Agency among New York state IDAs
The Saratogian
The Saratoga County Industrial Development Agency is near the top of the list of New York IDAs that doled out the most financial assistance from 2008 to 2011, according to a state Authorities Budget Office report. In those four years, Saratoga County
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IDAs retain right to give out state tax breaks in budget win
Innovation Trail
A report from the State Authorities Budget Office released this month found IDAs gave out $5.6 billion in tax breaks from 2008-11.

CSEA Sues Saratoga County Over Nursing Home Sale
North Country Gazette
2013 · Leave a Comment BALLSTON SPA—CSEA – New York’s leading union to a local development corporation – a non-regulated shell corporation that they ….

Silver Announces SFY 2013-14 Budget Includes Nearly $10 Million
Saugerties Post Star
that we continue to make investments to further New York’s economic growth. to the Utica-Rome Region’s Griffiss Local Development Corporation,

Empire State Development announced $1.5 million in funding for
The Batavian
The Genesee Gateway Local Development Corporation (GGLDC), which serves as the GGLDC has completed five park developments across Upstate New York – each

EDC ends legal fight against state
Gloversville Leader-Herald
The EDC had sued the Authorities Budget Office after the office told the EDC it is a public agency and its records and meetings must be open to the public

Stop fighting for secrecy
Gloversville Leader-Herald
The EDC had claimed it is a private entity and not subject to the state Public Authorities Accountability Act of 2005. But the EDC last week withdrew its Article 78 petition against the state Authorities Budget Office. The petition was designed to
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Yankee Stadium Parking Operator in Hot Water
IVCPOST
The company issued US$237.6 million in municipal bonds back in 2007 through the Industrial Development Agency of New York City. The proceeds of the bond issue would be to build three garages and renovate two other existing ones. Unfortunately, the
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Yankee Parking Garage Misses $6.9 Million Payment on Opening Day
San Francisco Chronicle
Bronx Parking Development Corp. issued $237.6 million of municipal bonds in 2007 through New York City’s Industrial Development Agency to build three garages and renovate two others. The structures haven’t generated enough revenue and Bronx
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State Senator Malcolm Smith Busted in Scheme to Rig New York City
National Legal and Policy Center
officials to allow Smith to run for New York City mayor as a Republican. Meeks in a charity called New Development Local Development Corporation.

Regeneron Pharmaceuticals Announces Expansion in New York’s Hudson Valley
Sacramento Bee
The company had also considered expanding outside New York before the State stepped in with $8.5 million in tax credits through the Excelsior Jobs Program and the Town of Mount Pleasant Industrial Development Agency offered additional incentives.
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Fitch Affirms YMCA of Greater NY Revs at ‘BBB+’; Outlook Stable
Fort Mills Times
Fitch Ratings affirms approximately $32.3 million of outstanding New York City Industrial Development Agency (IDA) bonds, issued on behalf of the Young Men’s Christian Association of Greater New York (YMCA-NY or the association) at ‘BBB+’. The Rating
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Participating Agencies for Sandy Forum Growing
Patch.com
Office of Consumer Affairs; Department of Assessment; Health Department; Department of Emergency Management; Office of Constituent Affairs; Nassau County Industrial Development Agency; New York Legal Assistance Group; National Grid; Long Island
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New prohibition against tax breaks for retail projects easy to get around
Syracuse.com
The Syracuse Industrial Development Agency granted a 30-year property tax exemption to Central New York’s ultimate retail project, the expansion of the Carousel Center shopping mall, now named Destiny USA. The development agency deemed the mall,
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Valatie LDC striving for compliance with state rules
The Register Star
“The Valatie Local Development Corporation has been actively working to bring the organization into full compliance with the New York State Budget Office

State Authorities Budget Office rebukes Clifton Park IDA fund for refusing to
The Saratogian
A spokesperson for the Authorities Budget Office, a state watchdog group, said the fund is a local authority and therefore subject to the accountability and reporting requirements of the Public Authorities Law. The fund was started in 2009 with grant
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State Authorities Budget Office rebukes Clifton Park IDA fund for refusing to
The Saratogian
A spokesperson for the Authorities Budget Office, a state watchdog group, said the fund is a local authority and therefore subject to the accountability and reporting requirements of the Public Authorities Law. The fund was started in 2009 with grant
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Links Roundup – Inside New York State Edition

June 21, 2013

ABO report: OGS should take over The Egg
Albany Times Union
The state Authorities Budget Office concludes in a report released Thursday morning that The Empire State Plaza Performing Arts Center Operating Corporation ….

Report recommends transferring control of the Egg
Schenectady Gazette
By David Lombardo The New York State Authorities Budget Office is recommending handing control of “the Egg” over to the state’s Office of General Services.

Cuomo vs. the IDA’s
Rochester City Newspaper
Virtually every industrial development agency in New York has come out against Governor Andrew Cuomo’s proposal to restrict their ability to offer state

County IDA Hosts Energy Workshop
Jamestown Post Journal
The workshop was hosted by the Chautauqua County Industrial Development Agency, from the New York state Energy Research and Development Agency; ..

Energy Improvement Corporation, a New York State Local Development
MarketWatch
EIC is a New York State Public Benefit and Local Development Corporation that works on behalf of its municipal members to help achieve local and statewide

Energy Improvement Corporation, a New York State Local Development
MarketWatch
EIC is a New York State Public Benefit and Local Development Corporation that works on behalf of its municipal members to help achieve local and statewide

Gov. Cuomo Appoints Three to Binghamton University Council
WBGH
A member of the New York State Bar Association and the Broome County Bar the Tri-Cities Opera, and the Binghamton Local Development Corporation

Jefferson County Legislature to vote on resolution opposing NY
WatertownDailyTimes.com
opposing the New York Secure Ammunition and Firearms Enforcement Act of County Industrial Development Agency’s Loan Review Committee on Tuesday

Harbor casino/PRO: Palmieri says it’s too good to pass up
Utica Observer Dispatch
Andrew Cuomo’s promise for rebuilding Upstate New York depends on locating Just this past week the Harbor Point Local Development Corporation selected

Do you want to help buy a skyscraper?
Buffalo News
building in upstate New York – scramble to avoid foreclosure or bankruptcy. in tax breaks through the Erie County Industrial Development Agency

Debt $oar point for the MTA
New York Post
Authority debt jumped 13.5 percent in the past two years, from $214.6 billion in 2009-10 to $243.7 billion last fiscal year — while spending by public authorities ballooned by 27 percent, from $44 billion to $56 billion during the period, according to

Public authorities rack up nearly $250 billion in debt
Poughkeepsie Journal
ALBANY — Debt at the state’s shadowy public authorities has reached $243 billion and was racked up with little public input, a report today from Comptroller Thomas DiNapoli found. The state has a remarkable 1,169 authorities that oversee public

Public authorities rack up $250 billion in debt
statepolitics.lohudblogs
The state established an Authorities Budget Office in 2009 to oversee the authorities and curb their debt, and Gov. Andrew Cuomo has sought to dissolve

Study warns of debt pileup
Albany Times Union
“It’s very hard to track them down,” said David Kidera, director of the Authorities Budget Office, which since the 2009 reforms has expanded its ability to

Get your public authority list here
Albany Times Union
Here is a list of the state’s authorities maintained by the Comptrollers office followed by those, according to the Authorities Budget Office,

Dunkirk Industrial Development Agency hears energy plan
Evening Observer
The project has been in the planning stages and has received startup funding from the Chautauqua County Industrial Development Agency and more recently, in December, $350,000 from the Western New York Regional Economic Development Council.

Westchester legislators hoping to ratify local development
Politics on the Hudson
of the organization and the state Authorities Budget Office raised questions about whether the LDC bonds would be tax exempt without board approval

Three Central New York development agencies among biggest givers of tax
Syracuse.com
In total, the 109 industrial development agencies in New York gave out $2.2 billion in tax exemptions to businesses from 2008 through 2011. New York City’s industrial development agency gave out the most — $554 million in exemptions. David Kidera

College Chargebacks, Fair Housing Law, Local Development Corporation
Patch.com
Summit Park Nursing Care Center to a Local Development Corporation (LDC). forfeiture funds for the purchase of 2013 New York State Law Enforcement

BLDC Awarded $250000 New York Main Street Grant
WBGH
The Binghamton Local Development Corporation (BLDC) announced today that it the grant through New York State Housing Trust Fund Corporation’s Office of

Fiscal Crisis Focus Of Minority Leader’s Speech
Patch.com
Care Center) and the proposed Local Development Corporation,” said Carey. grant from New York State Criminal Services for ignition lock devices

Construction and design news
Real Estate Weekly
Sabol will be based in Skanska’s office in Queens, New York. Flushing Willets Point Corona Local Development Corporation’s (FWPCLDC) Board of Directors.

STAMP project wins $1.6M in grant and loan funding
The Daily News Online
In exact terms, the funds were awarded to the Genesee Gateway Local Development Corporation, which is the real estate branch of the Genesee County Economic

Study: NCIDA is No. 2 in tax exemptions for developers
Business First of Buffalo
The state’s Authorities Budget Office says the NCIDA offered tax exemptions totaling $147.5 million in its assistance packages for developers between 2008

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