Home

Government Affairs Albany Update
October 7, 2011

CFA/ROUND ONE

The Cuomo Administration intends to make up to $1 billion in economic development awards through its first round of approvals of “consolidated funding application” submissions. To be eligible for round one funding, applications must be submitted by October 30th, with awards to be announced in December. This was one of the key messages presented in regional CFA workshops this week hosted by Empire State Development, Department of Labor and other administrative officials.

Available funding will include the $200 million in capital grants and Excelsior tax credits to be awarded through a competitive review of development plans to be submitted by the state’s ten Regional Councils, as well as tax exempt private activity bonding ($350 million), housing assistance ($125 million), energy and environmental improvements ($75 million),“economic transformation” funding ($50 million for redevelopment in communities affected by prison closings), community and waterfront revitalization ($20 million), economic development fund assistance ($20 million) and others. Applications for the new “Recharge NY” low cost power program must also be made through the CFA process, but NYPA has announced a November 30 deadline for round one of RechargeNY awards (see item below for more details on RNY).

While it is clear that going forward, virtually all assistance applications will be required to be submitted electronically through the CFA process, the state has not finalized plans for review and approval of CFA applications after October 31st. Details on the CFA process, available funding, and application process is available here.

We would be interested in hearing about our members’ experience with the CFA process.

HYDROFRACKING HEARING

In testimony given this week before the Assembly Environmental Conservation Committee, Heather Briccetti, acting-president and CEO of The Business Council of New York State, Inc. stressed the need for New York to move ahead with a balanced approach to development in the Marcellus Shale. As part of her testimony she stated, “Over the past two and a half years, the State of New York has engaged in one of the nation’s most complex and thorough reviews of one single process; the extraction of a natural resource. The Department of Environmental Conservation under the leadership of two Commissioners with strong environmental records have investigated and planned for the high and low probability factors associated with natural gas drilling. It is time to move forward.”

The Public Policy Institute, the research arm of The Business Council, recently released a report on Marcellus Shale development entitled Drilling for Jobs: What the Marcellus Shale could mean for New York. The hearing featured representatives of the Department of Environmental Conservation, who defended their review process to date. However, most speakers on the agenda were opponents of moving forward with development of Marcellus Shale formation.

LEGISLATIVE UPDATE

Governor Cuomo recently announced final action on nearly one hundred bills that passed both houses of the legislature during the 2011 session. The entire list is available here. Bills of interest to Business Council members included:

Approvals

Vetoes

Archives