Senate Bill S746A

                                 BILL NUMBER:  S746A

 TITLE OF BILL :  An act to amend the New York state urban development
corporation act, in relation to requiring the corporation to study the
city of Buffalo for the purpose of fostering the growth of business
and industry in New York state; and providing for the repeal of such
provisions upon expiration thereof

 PURPOSE :

The purpose of the study is to examine and evaluate the prospects for
retail redevelopment in the city of Buffalo. The commission shall
develop a retail revitalization program including, choosing target
industries, developing voluntary programs, and creating tax credits or
other similar incentives.

 SUMMARY OF PROVISIONS :

The "Retail Redevelopment Commission" shall establish a pilot program,
whose primary responsibility shall be to produce a study of the
possible retail industries that would benefit residents and visitors
to Buffalo. This pilot program study shall be conducted within the
city of Buffalo and include a comprehensive market analysis study.
The commission shall report on current and projected trends in retail
for the city, develop initiatives, programs and policies for the
development and growth of retail businesses in Buffalo, as a model for
              

other cities in the state. The study would require that the results be
presented in a report to the legislature of its conclusions and
recommendations, including legislative proposals necessary to
implement the suggested programs, not later than July 1, 2017 and a
final report on or before January 1, 2018.

 JUSTIFICATION :

With high rates of joblessness, homelessness, poverty and crime; many
Buffalo residents struggle, as evidenced in the 2000 Census. The per
capita income in the City of Buffalo is $14,991. This number is well
below the national per capita income of $21,587. Twenty six percent of
residents in the City of Buffalo live beneath the poverty level, as
determined by the U.S. Department of Health and Human Services.
Additionally, unemployment is on the rise at 10.4%, as reported by the
New York State Department of Labor in December of 2003. Facing these
grim statistics, Buffalo still has many advantages and is
strategically oriented to build on its assets.

For much of its history, Buffalo's economy has been dominated by
manufacturing, and when the jobs moved, so did the people. Over the
past several decades, and especially today, the economic climate is
changing.

As manufacturing employment continues to decline, the growth of the
area's 'a new economy,' defined by information technology,
cross-sector partnerships, urban reinvestment and changing
demographics, has begun soar.

As a city rich with culture and history, record commercial development
In downtown Buffalo, a resurgence in downtown living, and serving as a
Gate way to one of the Seven Wonders of the Natural World, Buffalo is
at the cusp of a new era. With a new master plan for our schools, the
newly designed award-winning airport, and innovative efforts to bring
Buffalo and the region's economy to a new level, Buffalo is poised to
attract progressive retail chains to the area. Therefore, it is
imperative that the city devise a comprehensive strategy to rebuild
its suffering retail industry to complement other positive
developments. The retail industry is one of the most important sectors
in the economy, providing over 15 per cent of all employment and
including some of the largest and most admired companies worldwide.
Retailing deals with a large variety of products - ranging from
physical products, such as packaged goods, to intangible products,
such as financial services or travel. The importance of retailing for
consumers does not need much explanation: most people deal as
consumers with retailers almost every day and for many people shopping
plays an important part in their lives.

Through this Retail Redevelopment Commission, Buffalo becomes a
strong, urban epicenter - as it once was in its hey-day -- where
citizens of the city and the surrounding region can live, work,
entertain and have access to a progressive and diverse retail
industry.

 LEGISLATIVE HISTORY :

2011-12: S.6933/A.976 Referred to Corporations, Authorities and
Commissions
2013-14: Referred to Corporations, Authorities and Commissions

 FISCAL IMPLICATIONS :

Compensation may be required for actual and necessary expenses to
conduct this study.

 EFFECTIVE DATE :
This act shall take effect immediately and remain in effect until
March 31, 2018, when upon such date the provisions of this act shall
expire and be deemed repealed.