FOR IMMEDIATE RELEASE
December 7, 2010
MAYOR BLOOMBERG SIGNS LEGISLATION CHANGING THE ECONOMIC DEVELOPMENT CORPORATION’S ANNUAL REPORT
Remarks by Mayor Bloomberg at a Public Hearing on Local Laws
"The next bill before me today, Introductory Number 256-A, is sponsored by Council Members Reyna, Lander, Mendez, Sanders, Rodriguez, Jackson, Chin, Van Bramer, Barron, James, Gennaro, Williams and Koo. This legislation makes several changes to the annual report that the Economic Development Corporation submits to the Mayor and Council concerning the economic development benefits they provide.
"Introductory Number 256-A will require EDC to report on all projects that continue to receive financial benefits for the life of such benefits. It will also simplify the reporting requirements for land sales and leases while extending the reporting period on leases for the life of such leases. Finally, this legislation will require EDC to make the data included in the reports available online in a non-proprietary database so that interested persons can more easily analyze the information.
"I would like to thank my Office of City Legislative Affairs for working with the Council on this bill. I would also like to thank the Council for approving this legislation."
Stu Loeser/Evelyn Erskine (212) 788-2958
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