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Links roundup

September 19, 2011
  • New York City now has more than $100 billion in outstanding debt, much of it attributable to public authorities. [Citizens Budget Commission]
  • A new report compares New York’s system of economic development programs to the mythical hydra—“a multi-headed monster that grows a new head each time one is cut off”—and says that subsidies should be awarded solely on a performance basis. [Citizens Budget Commission] [Crain’s]
  • On the other hand, infrastructure spending might be an even better economic development strategy. [Empire State Future]
  • Yields have fallen on public authority bonds backed by personal-income tax levies, making borrowing cheaper and suggesting that investors are confident in New York’s ability to withstand the economic downturn. [Bloomberg]
  • The Erie Canal Harbor Development Corporation is soliciting proposals for large scale art installations on the Skyway or Connecting Terminal Grain Elevator. [Buffalo Rising]
  • And a new article by law prof Ilya Somin discusses ESDC’s use and abuse of eminent domain, focusing on its role in the Atlantic Yards and Columbia University expansion projects. [Atlantic Yards Report]
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