Letter to The Journal News from NYS Comptroller
Given the turn of events in the Town of Ramapo related to the questionable financing of a minor league baseball stadium, is there any doubt New York’s local development corporations need more oversight?
Commonly known as LDCs, these entities are private, not-for-profit corporations often created by, or for the benefit of, New York’s counties, cities, towns and villages to spur economic growth or serve other public purposes. In many cases, LDCs are used for economic development such as rehabilitating industrial plants or encouraging businesses to locate or stay in a particular region. [Read more…]