1. The Laws of New York
  2. Unconsolidated Laws
  3. Urban Development Corporation Act 174/68

Section 30 Reports and evaluations

Urban Development Corporation Act 174/68 (UDA)

(a) Annual fiscal report. The corporation shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee, the comptroller and the director of the budget within 6 months after the end of its fiscal year, a complete and detailed report setting forth: (1) its operations and accomplishments; (2) its receipts and expenditures during such fiscal year in accordance with the categories or classifications established by the corporation for its operating and capital outlay purposes, including a listing of all private consultants engaged by the corporation on a contract basis and a statement of the total amount paid to each such private consultant; (3) its assets and liabilities at the end of its fiscal year, including a schedule of its leases and mortgages and the status of reserve, special or other funds; and (4) a schedule of its bonds and notes outstanding at the end of its fiscal year, together with a statement of the amounts redeemed and incurred during such fiscal year.

  (b) Annual program report. The corporation shall report on an annual basis beginning October 1, 2005, and on each October 1 thereafter, to the governor, the chairpersons of the senate committees on finance, commerce, economic development and small business, and corporations, authorities and commissions, the chairpersons of the assembly committees on ways and means, economic development, job creation, commerce and industry, corporations, authorities and commissions, and small business on each of the financial assistance programs, and for each program, each category of assistance administered by the corporation, identifying each proposal for assistance through such program for which the corporation has received a formal application or otherwise has begun to undertake an analysis.

  (1) For those requests which are currently being evaluated but which have not yet been approved such description shall include, but not be limited to, the name and location of the applicant, the amount of assistance requested, the date of receipt of such request, and the status of such request.

  (2) In providing such report, where necessary to promote the development of proposed projects, the corporation may delete references to the specific names of the participants, instead making references to them in some other form so as to make it possible to identify the progress of specific proposals.

  (3) Such report shall provide a breakdown, for each of the regions established pursuant to section 230 of the economic development law, of proposals for assistance through each program. In addition, such report shall summarize, by program, the data reported pursuant to this paragraph.

  (4) For those requests which have been evaluated and for which no further action has been recommended, the corporation shall present summary data indicating why no further action was taken.

  (5) The corporation shall make available to each of the legislative committees specified in this subdivision, a copy of the materials provided to its board prior to each board meeting.

  (c) Evaluations. (1) In addition to any other requirements imposed by the act or otherwise regarding evaluations of programs administered by the corporation, each evaluation shall include an analysis of the job creation effect of such program, the number of small businesses that received assistance, the number of minority and women-owned firms that received assistance, the number of projects undertaken in distressed and highly distressed communities, and, if applicable, the repayment experience of borrowers of funds from the corporation.

  (2) (i) In the case of any assistance programs administered by the corporation for which independent evaluations are not otherwise required, the corporation shall submit to the director of the budget, the chairperson of the senate finance committee and the chairperson of the assembly ways and means committee an evaluation of such programs prepared by an entity independent of the corporation. Such evaluations shall be submitted by September 1, 2005 and by September 1 every four years thereafter.

  (ii) Between evaluation due dates, the corporation shall maintain the necessary records and data required to satisfy such evaluation requirements and to satisfy information requests received from the director of the budget, the chairperson of the senate finance committee and the chairperson of the assembly ways and means committee between such evaluation due dates.