Local Development Corporations (LDC): Risks and Benefits - Case Studies in the Rochester Area

CGR, with funding from the Beatrice Bibby Fund at CGR in cooperation with the League of Women Voters of Metropolitan Rochester (NY), set out to identify the number, type and characteristics of local development corporations in the Rochester area. These quasi-government entities are not subject to the same public oversight as the counties, cities, towns or villages that create them, and are not tracked or monitored by any state body. CGR, in what is likely a first-ever report on a region in NY, identifies 16, with total assets ranging from $4,000 to $34 million, and finds the powers that allow them to do great good also leave them open to abuse. CGR urges state action.
The 2011 update notes changes occurring since the report was completed, including legislative action that creates an Authority Budget Office with oversight responsibility for LDCs, and a study completed by the Office of State Comptroller that concurs with many of CGR’s recommendations.

Report Date: May 2011
Author(s): Kent Gardner , Erika Rosenberg
Subject(s): Government Management , Program Evaluation , Public Finance
Location: Monroe, New York

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