Liu Convenes Task Force on Public Benefits (update)
March 19th, 2010
In an effort to make sure the public receives benefits when the city gives out public subsides, Comptroller John Liu convened the first meeting of a task force this morning that will look into reforming the process of economic development.
Liu announced the task force in February, saying in a press release at the time: “It is simply common sense to have clear standards that ensure benefits for the public when private developers receive benefits from the public.”
Initially charged with looking at community benefit agreements, the task force has expanded its scope to all deals that receive public subsidies, according to Sharon Lee, the comptroller’s spokesperson. They will report back to the comptroller in six months with recommendations, she said.
Over the years, community benefits agreements, which are unregulated, have become standard practice for development deals. The agreements are struck between community groups and stakeholders and developers, often quelling community opposition and ensuring a development moves forward. They are outside of the land use process.
UPDATE: Here are the co-chairs of the task force:
JOHN “JACK” AHERN – President of the New York City Central Labor Council (AFL-CIO)
PRISCILLA ALMODOVAR – Former President of New York State’s Housing Finance Agency and the State of New York Mortgage Agency, Ms. Almodovar is now Chief Operating Officer for the Community Development Banking Group at JP Morgan Chase.
BARRY GOSIN – Chief Executive Officer of Newmark Knight Frank since 1979.
JOYCE MOY – Professor of Small Business Management and Entrepreneurship at the City University of New York (CUNY); and
Executive Director of the CUNY’s Asian American/Asian Research Institute (AAARI). Professor Moy, whose field of expertise is
economic development and entrepreneurship, has developed programming that is responsive to immigrant, women and minority business owners.
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