Bill Text: NY S03422 | 2013-2014 | General Assembly | Introduced

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Bill Title: Relates to large capital projects to be financed in whole or in part with public funds or to be supported by tax and other public incentives and the disclosure of such projects.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO CITIES [S03422 Detail]

Download: New_York-2013-S03422-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3422
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   February 1, 2013
                                      ___________
       Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
         printed to be committed to the Committee on Cities
       AN ACT relating to large capital projects to be financed in whole or  in
         part with public funds and the disclosure of such projects
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Legislative findings. The legislature finds that there  are
    2  in  the  city  of New York many large capital projects to be financed in
    3  whole or in part with public funds or to be supported by tax  and  other
    4  public  incentives  and  which  are crucial to the economic and cultural
    5  interests of such city and the state of New York as a whole,  and  which
    6  are  at some stage of proposal, planning or implementation. The legisla-
    7  ture further finds that it is important that a full disclosure  be  made
    8  of  the  details of such projects, their projected costs to the city and
    9  state and to public benefit corporations, the  projected  benefits,  the
   10  reasons why some of them have been delayed and why some of the proposals
   11  have  been modified. Accordingly, it is critical that the New York state
   12  urban development corporation, also known as the Empire  State  Develop-
   13  ment  Corporation,  provide  a  prompt report to the legislature on such
   14  projects so the legislature may provide the  necessary  policy  determi-
   15  nations  and establish appropriate priorities so that necessary projects
   16  can proceed.
   17    S 2. As used in this act, the following terms shall have the following
   18  meanings:
   19    1. The term "corporation" shall mean the New York state urban develop-
   20  ment corporation established by chapter 174 of the laws of 1968.
   21    2. The term "chair" shall mean the chairman of the board of  directors
   22  of the corporation.
   23    3.  The  term  "projects"  shall  mean all development, redevelopment,
   24  construction, repair, and refurbishment projects within the city of  New
   25  York  in  which  the  corporation  or any subsidiary or affiliate of the
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00883-01-3
       S. 3422                             2
    1  corporation is involved with the planning, financing, or contracting  in
    2  whole  or  in  part and any project related to such projects, whether or
    3  not the corporation or its subsidiary  or  affiliate  is  involved.  The
    4  projects, for the purposes of this  act shall be grouped into three sets
    5  as follows:
    6    a.  The  west  side  redevelopment projects, which shall mean projects
    7  located on the West side of midtown Manhattan including, without limita-
    8  tion, projects named or sometimes referred to as follows: Javits Conven-
    9  tion Center redevelopment; Moynihan  Station  and  Pennsylvania  Station
   10  redevelopment;  the  7  line subway extension, the Hudson Yards develop-
   11  ment, the Boulevard, and the ARC project.
   12    b. The lower Manhattan redevelopment projects, including all  projects
   13  located  at  or near the site of the former World Trade Center buildings
   14  and related to reconstruction or replacement of buildings  destroyed  or
   15  damaged  in  the  heinous  terrorist acts of September 11, 2001, and all
   16  associated mass transportation facilities in that area.
   17    c. All other projects within the city of New York, including  but  not
   18  limited  to  the  Atlantic Yards development, Willetts Point development
   19  and Sunnyside Yards development.
   20    d. Any other project in the region that in the judgment of the  chair-
   21  man  of the board of the corporation should be a part of the report that
   22  is required by section three of this act.
   23    S 3. The chair shall prepare and deliver to the governor,  the  tempo-
   24  rary  president  of  the  senate, the minority leader of the senate, the
   25  speaker of the assembly the minority leader of the assembly, the  chair-
   26  person of the senate corporations, authorities and commissions committee
   27  and  the  chairperson  of  the  assembly  corporations,  authorities and
   28  commissions committee not later than 45 days after the effective date of
   29  this act a comprehensive report on each of the projects individually and
   30  as they interact with and have any effect on the other.    In  preparing
   31  such  report,  the  chair  shall  consult  with  private developers, and
   32  government officials and agencies involved with each project,  including
   33  without  limitation,  the port authority of New York and New Jersey, the
   34  lower Manhattan development corporation, the metropolitan transportation
   35  authority, the office of the mayor of the city of  New  York,  the  city
   36  council  of  the  city of New York, and the governor of the state of New
   37  York, and any other person or institution deemed appropriate.  All  such
   38  officials  and  agencies  are  hereby authorized and directed to consult
   39  with and assist the chair in the preparation of such report.
   40    Such report shall discuss all aspects of the progress of each  project
   41  relating  to planning, financing, permitting, contracting, constructing,
   42  and occupying such project,  with  comments  on  the  current  situation
   43  relating  to organizational, legal, financial, economic and construction
   44  status and prospects, and the impact of such project,  if  any,  on  the
   45  capital  needs of the metropolitan transportation authority, with refer-
   46  ence  to  differing  opinions  from  various  stakeholders  and  parties
   47  involved  to  the extent that such opinions exist. The report shall make
   48  recommendations with regard to the goals of each project and the  recom-
   49  mended  methods to achieve such goals. It shall also present an analysis
   50  of the potential financing of each project, including incentives,  bene-
   51  fits, subsidies, and revenues to be provided by any governmental unit or
   52  public  benefit  corporation and the economic impact that the project is
   53  expected to have on the city of New York, the state of New York, and the
   54  metropolitan area centered in the city of New York, and a comparison  of
   55  expected benefits with anticipated costs.
   56    S 4. This act shall take effect immediately.