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Links roundup—LDC edition

September 30, 2011
  • Monroe County Democrat Richard Beebe has proposed LDC reforms in response to the comptroller’s recent audit of the county’s Upstate Telecommunications Corporation LDC. [Monroe County Legislature]
  • Related: the Monroe County Democratic Caucus issued a press release praising the comptroller and the attorney general for investigating the UTC. [MCDC Press Release]
  • One of the issues that came up in the comptroller’s audit was whether the bidding for the UTC’s $99 million contract was rigged. Republican county representatives say that it wasn’t, but the Democrats disagree. [Democrat & Chronicle] [also Democrat & Chronicle]
  • The Bronx Parking Development Corporation and the Bronx Overall Economic Development Corporation (at least one of which is a local public authority LDC) have finally thrown in the towel with the overpriced parking garage adjacent to Yankee Stadium. [The Bond Buyer]
  • The Bronx Overall Economic Development Corporation is also cohosting the borough’s first official restaurant week from Tuesday, Nov. 1st to Sunday, Nov. 13th. [Examiner]
  • Finally, Fitch Ratings gave an A rating to a $1 billion bond issue being offered by the Hudson Yards Infrastructure Corporation, a local public authority LDC. The special obligation bonds, which are backed by revenues expected to be generated by development in the Hudson Yards area, will be used to pay for an extension of the No. 7 subway line, a system of new parks, public open spaces, and streets in the project area, and for certain property acquisition. [Market Watch]
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