City Agency to Shine Brighter Light on Biz Subsidies
(Crain’s) — The city’s Industrial Development Agency finally found something to vote on Tuesday that even its harshest critic—City Comptroller John Liu—couldn’t fault: reforms to increase the agency’s transparency and accessibility.
The city’s IDA and Capital Resource Corp., which provide subsidies and low-cost financing to promote economic development, each unanimously approved a package of reforms to their operating procedures that call for more rigorous job-reporting requirements, broadcasting of public hearings and board meetings, and dissemination of additional project information prior to hearings.
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