Economic Development Committee Update - January 28, 2015

Contact: Ken Pokalsky

Thanks again for your involvement in The Business Council’s advocacy efforts on economic development issues. I wanted to call your attention to several issues.

FY 2016 NYS Budget

Governor Cuomo’s FY 2016 Executive Budget contains several significant economic development initiatives. Our overview of the Executive Budget is available here; the economic development summary is available here; and the financial settlement spending plan is available here. We are asking for member input on the overall budget proposal, and on several issues in specific:

Eminent Domain Legislation

Last session, legislation was introduced – S.6779 (DeFrancisco)/A.7887 (Paulin) – that amends the Urban Development Corporation’s authority to obtain property through eminent domain. In general, it limits UDC taking to areas designated as “blighted,” and adopts a new definition of “blighted property” and “blighted area.” It also can be read as limited UDC redevelopment assistance to blighted property. We have been asked by Senator DeFrancisco to provide additional input before they reintroduce legislation this session. Our memo on last year’s bill is available here. We welcome members’ input on this proposal, and/or recommendations on other issues related to New York State eminent domain law.

My contact information is below. Please feel to contact me by phone or email with any comments or questions you have. Thanks.