No Subsidy Sheet write-up this week because Tom will be off, but there have been so many news stories that we’re sending along this quick roundup.
Here are some stories from this week:
- Governor Hochul’s Penn Station redevelopment could provide $1.2 billion to developer Vornado, according to a study by the Schwartz Center for Economic Policy Analysis at The New School, and commissioned by Reinvent Albany (NY Times). Read the analysis here.
- Governor Hochul promised to change Albany’s culture, but backroom deals like the Green CHIPS subsidy suggest that not much has changed (NY Times).
- Lawmakers and advocates are calling for Governor Hochul to relinquish control of the Penn Station revamp (Gothamist).
- The Auburn Pub Editorial Board says Governor Hochul should sign the economic development reform bills we and 20 groups came out in support of last week. Governor Hochul was noncommittal when asked whether she’d sign the bill that would restore the Senate’s powers on the Public Authorities Control Board, which oversees certain public works projects, including for Penn Station.
- Amazon wants $124 million in property tax breaks for its next Niagara County warehouse (Buffalo News).
- New York is providing $5 million in Excelsior tax credits for Corning, which produces equipment for chip fabs, but Pat Garofalo at the American Economic Liberties Project questions whether this is necessary (The Center Square).
- The Buffalo News Editorial Board complains about secrecy in community benefit agreements for the Bills stadium subsidy deal. The Board has vocally supported the deal to date despite all previous secrecy, and the Buffalo News’ publisher advised the Pegulas on the deal. Relatedly, plans for the new stadium will be presented at a public meeting on July 14 (WKBW).
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