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The Lower Manhattan Development Corporation was formed in November 2001 by then-Governor George Pataki and then-Mayor Rudolph Giuliani. [2] The LMDC is a joint State-City corporation governed by a 16-member Board of Directors, half appointed by the Governor of New York and half by the Mayor of New York. As a result, Pataki and Giuliani ...
Issuance of DASNY bonds for economic development projects began in 1998, with the Community Enhancement Facilities Assistance Program (CEFAP). Since then, approximately $1.9 billion has been spent on a number of relatively small projects, through more than ten different programs, among them the State and Municipal Facilities Program (SAM).
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
The New York State Housing Finance Agency (HFA) is a New York State public-benefit corporation created in 1960 to increase the supply of rental housing for low-income people by issuing bonds and providing low-interest mortgage loans to regulated housing companies.
Amalgamated Dwellings (1930), in Cooperative Village, Lower East Side of Manhattan, New York City, 236 units; Hillman Housing Corporation (1947–1950), in Cooperative Village, 807 units; Under the Housing Development Fund Corporation. 566 W. 159th Street, Washington Heights; 1007-09 E. 174th Street, the Bronx; Lenox Court, East Harlem
The Lower Manhattan Development Corporation (LMDC) announced on October 12, 2004, that Gehry Partners LLP and Snøhetta, an architectural firm from Norway, would design the Performing Arts Center. [ 2 ] [ 3 ] [ 4 ] Gehry's proposal, which incorporated a boxlike design, would have housed the Joyce Theater , as the Signature Theatre Company had ...
Reportedly, the Lower East Side Conservancy was trying to raise an estimate $4.5 million for repairs, with the intent of turning the building into an educational center. It was granted $215,000 by the United States Department of Education and was promised an equal amount by the Lower Manhattan Development Corporation.
New York City Industrial Development Agency (NYCIDA) is a public benefit corporation under New York State law that provides companies with access to tax-exempt bond financing or tax benefits to strengthen and diversify the City’s tax and employment base, helps businesses locate and expand their operations within New York City, and encourages ...