"The final bill before me today is  Introductory Number 729-A, sponsored by Council Members Mealy, Wills, Barron, Chin, Fidler, Gentile, James, Koppell, Lander, Palma, Recchia, Rose, Sanders, Vacca, Vann, Williams, Rodriguez, Brewer, Reyna, Jackson, Weprin, Levin, Dromm, Koo, Van Bramer, Lappin, Garodnick, Mark-Viverito, Ulrich, and Halloran. 

This bill establishes a public, online and searchable database outlining the terms of certain City contracts. 

"With more than $15 billion in procured goods and services last year alone, New York City is one of the largest contracting jurisdictions in the nation.  Through procurement, we've invested in core services, infrastructure, waste management, economic development and programs to serve New Yorkers in need - and we've also made our procurement process more efficient and accountable.   This legislation builds on these efforts.

"The database required by Introductory Number 729-A will enable New Yorkers to access information about every City contract over $100,000, including a plain-language description of the contract's scope of services, how much it's costing taxpayers, and when it's scheduled to be completed. 

"I would like to thank Mayor's Office of Contract Services Director Marla Simpson, and Deputy Director Ezra Polonsky, the City Council, and my Office of City Legislative Affairs for their work on this bill."