FOR IMMEDIATE RELEASE
May 19, 2005
MAYOR MICHAEL R. BLOOMBERG SIGNS LEGISLATION INCREASING REPORTING REQUIREMENTS FOR ECONOMIC DEVELOPMENT PROJECTS
Remarks by Mayor Bloomberg at a Public Hearing on Local Laws
"The next bill before me today is Introductory Number 373-A, sponsored by Council Members Sanders, Barron, Gonzalez, James, Jennings, Quinn, Recchia, Stewart, Gerson, Jackson, Yassky, Gennaro, DeBlasio, Nelson, Koppell and Public Advocate Gotbaum. This legislation adds additional reporting requirements to the annual report the Economic Development Corporation (EDC) submits to the Mayor and City Council.
"Intro. 373-A will expand the level of detail included within this annual report and enable the public to better evaluate the success of EDC programs. Intro. 373-A increases the number of deals listed in the annual report and will provide details on City residency rates, wage levels, and health insurance coverage of the employees of businesses receiving city assistance.
"I would like to thank EDC President Andrew Alper and his staff for their hard work on this legislation. I would also like to thank the Council for shepherding this bill through the legislative process."
Jordan Barowitz / Paul Elliott (212) 788-2958