Skip to content

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 

 

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: