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Municipal Assistance Corporation
A Municipal Assistance Corporation (MAC) was an independent New York State public-benefit corporation created by the State of New York for purposes of providing financing assistance and fiscal oversight of a fiscally-distressed city. Two MACs are explicitly designated under New York law. Best known is the MAC created for New York City during the 1975 New York City fiscal crisis. The corporation was born of a recommendation made by a special panel composed of Simon H. Rifkind, Felix G. Rohatyn, Richard M. Shinn and Donald B. Smiley. The majority of appointees to the corporation’s board were made by the Governor, initially by New York Governor Hugh Carey. Members of the MAC included Donna Shalala, later the United States Secretary of Health and Human Services. As part of the creation of MAC, the state passed legislation that converted the city’s sales and stock transfer taxes into state taxes. In 2008, having sold almost $10 billion in bonds to keep the city solvent through ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Public-benefit Corporations
New York state public-benefit corporations and authorities operate like quasi-private corporations, with boards of directors appointed by elected officials, overseeing both publicly operated and privately operated systems. Public-benefit nonprofit corporations share characteristics with government agencies, but they are exempt from many state and local regulations. Of particular importance, they can issue their own debt, allowing them to bypass limits on state debt contained in the New York State Constitution. This allows public authorities to make potentially risky capital and infrastructure investments without directly putting the credit of New York State or its municipalities on the line. As a result, public authorities have become widely used for financing public works, and they are now responsible for more than 90% of the state's debt. The growing influence of public authorities over state and local financing, coupled with their ability to avoid regulations applicable to gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California State Library
The California State Library is the state library of the State of California, founded in 1850 by the California State Legislature. The Library collects, preserves, generates and disseminates a wide array of information. Today, it is the central reference and research library for state government and the Legislature. The California State Library advises, consults with and provides technical assistance to California's public libraries. It directs state and federal funds to support local public libraries and statewide library programs, including Institute of Museum and Library Services (IMLS) grants. The California State Library's mission is to serve as "...the state’s information hub, preserving California’s cultural heritage and connecting people, libraries and government to the resources and tools they need to succeed and to build a strong California." With the exception of the Sutro Library in the J. Paul Leonard Library at San Francisco State University, the other three bra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Local Government Assistance Corporation
The New York Local Government Assistance Corporation is a New York state public-benefit corporation created in 1990 to issue bonds to decrease the state's reliance on short term loans. Organization Until January 13, 2006, the Local Government Assistance Corporation had a three-member board of directors. The number was increased to seven in 2006. According to the New York State Authorities Budget Office, the Local Government Assistance Corporation had an operating budget of $3 million in 2017 with a staff of 24 people. Bond issuances The Local Government Assistance Corporation has not issued any new bonds since the 1993-94 fiscal year. As of March 31, 2018, there was $1.758 billion in debt outstanding. Controversy There is ongoing debate in New York State politics regarding the size and scope of New York State public benefit corporations, i.e., how many there are, how much debt they carry, how much power they wield to issue bonds for funding, who they are accountable to, etc. For e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lower Manhattan Development Corporation
The Lower Manhattan Development Corporation was formed in November 2001, following the September 11 attacks, to plan the reconstruction of Lower Manhattan and distribute nearly $10 billion in federal funds aimed at rebuilding downtown Manhattan. It is a subsidiary of the Empire State Development Corporation, which is a New York state public-benefit corporation. History The Lower Manhattan Development Corporation was formed in November 2001 by then-Governor George Pataki and then-Mayor Rudolph Giuliani. The LMDC is a joint State-City corporation governed by a 16-member Board of Directors, half appointed by the Governor of New York and half by the Mayor of New York. As a result, Pataki and Giuliani appointees dominate the LMDC. Its original chairman was John C. Whitehead, a former Deputy Secretary of State and head of Goldman Sachs. One of its first projects was the granting of more than $40 million for parks and green space. In February 2003, the LMDC chose Daniel Libeskind's mas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Emergency In Michigan
Financial emergency is a state of receivership for the State of Michigan's local governments. History DateFormat = yyyy ImageSize = width:750 height:auto barincrement:20 Period = from:1988 till:2010 TimeAxis = orientation:horizontal PlotArea = right:30 left:0 bottom:50 top:5 Colors = id:line value:black id:bg value:white PlotData= width:15 textcolor:black shift:(5,-5) anchor:from fontsize:s bar:1 color:red from:1988 till:end text:Public Act 101 of 1988 bar:2 color:tan2 from:1988 till:1990 text:Hamtramck bar:2 color:tan2 from:2000 till:2007 text:Hamtramck bar:3 color:yellow from:2000 till:2009 text: Highland Park bar:4 color:skyblue from:2002 till:2004 text:Flint bar:5 color:green from:2008 till:2009 text: Three Oaks bar:6 color:blue from:2009 till:end text: Detroit Public Schools bar:7 color:red from:2009 till:end text: Ecorse ScaleMajor = gridcolor:line unit:year increment:1 start:1988 In 1986 a state court appointed a receiver, Louis Schimmel, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Erie County, New York
Erie County is a county along the shore of Lake Erie in western New York State. As of the 2020 census, the population was 954,236. The county seat is Buffalo, which makes up about 28% of the county's population. Both the county and Lake Erie were named for the regional Iroquoian language-speaking Erie tribe of Native Americans, who lived in the area before 1654. They were later pushed out by the more powerful Iroquoian nations tribes. Erie County, along with its northern neighbor Niagara County, makes up the Buffalo-Niagara Falls metropolitan area, the second largest in New York State behind New York City. The county's southern part is known as the Southtowns. The county has seen one of the highest growth rates of any county in New York State from the 2010 to 2020 census. History When counties were established by the English colonial government in the Province of New York in 1683, present-day Erie County was part of Indian territory occupied by Iroquoian-speaking peoples. It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empire State Development Corporation
Empire State Development (ESD) is the umbrella organization for New York's two principal economic development public-benefit corporations, the New York State Urban Development Corporation (UDC) and the New York Job Development Authority (JDA). The New York State Department of Economic Development (DED) is a department of the New York government that has been operationally merged into ESD. ESD gives its mission as promoting the state economy, encouraging business investment and job creation, and supporting local economies through loans, grants, tax credits, real estate development, marketing and other forms of assistance. History The state Division of Commerce was created in 1941 and subsumed several state bureaus and the Bureau of Industry. It was replaced in 1944 by the state Department of Commerce. The New York State Urban Development Corporation (UDC) was created in 1968 by the York State Urban Development Corporation Act. On August 31, 1987, the Omnibus Economic Developme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Education Achievement Authority
The Education Achievement Authority (EAA or Authority) was the governing body of the Education Achievement System (EAS or System), a Michigan statewide school system for failing schools. It was discontinued in 2017 and the schools were returned to the Detroit Public Schools. The office of the State Superintendent or an Emergency Manager of a school district may transfer a failing school from its district into the System that is not under an approved redesign plan. History Michigan Governor Rick Snyder created the authority in June 2011 to take over and turn around failing schools. On August 26, 2011, the EAA Executive Committee went into executive session to discuss hiring John Covington as chancellor. In the summer of 2011, John Covington was appointed chancellor of the Authority school system. Pursuant to a complaint, on October 28 Judge Robert Colombo ruled them in violation of Open Meetings Act for failing to have a 2/3 vote to enter the executive session of August 26. C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Authority Of The North Country
The Development Authority of the North Country (DANC) is a New York State public-benefit corporation. It was created in 1985 by the New York State Legislature to develop and manage the infrastructure needed to support the reactivation of the 10th Mountain Division at Fort Drum, and to serve the common interests of Jefferson, Lewis and St. Lawrence counties. DANC owns and operates a number of revenue-based infrastructure facilities including water and wastewater facilities, a fiber optic network and a regional landfill. Its staff manages a range of business and housing loan programs that encourage growth and contribute to the prosperity of communities. Its staff also provides fee-based technical services to municipalities including consolidation studies, Geographic Information System hosting and the management of water and wastewater facilities. Organization An unpaid 13-member board guides the policy of DANC. Its executive management team is headed by James W. Wright, who acts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buffalo, New York
Buffalo is the second-largest city in the U.S. state of New York (behind only New York City) and the seat of Erie County. It is at the eastern end of Lake Erie, at the head of the Niagara River, and is across the Canadian border from Southern Ontario. With a population of 278,349 according to the 2020 census, Buffalo is the 78th-largest city in the United States. The city and nearby Niagara Falls together make up the two-county Buffalo–Niagara Falls Metropolitan Statistical Area (MSA), which had an estimated population of 1.1 million in 2020, making it the 49th largest MSA in the United States. Buffalo is in Western New York, which is the largest population and economic center between Boston and Cleveland. Before the 17th century, the region was inhabited by nomadic Paleo-Indians who were succeeded by the Neutral, Erie, and Iroquois nations. In the early 17th century, the French began to explore the region. In the 18th century, Iroquois land surrounding Buffalo Creek ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Troy, New York
Troy is a city in the U.S. state of New York and the county seat of Rensselaer County. The city is located on the western edge of Rensselaer County and on the eastern bank of the Hudson River. Troy has close ties to the nearby cities of Albany and Schenectady, forming a region popularly called the Capital District. The city is one of the three major centers for the Albany metropolitan statistical area, which has a population of 1,170,483. At the 2020 census, the population of Troy was 51,401. Troy's motto is ''Ilium fuit, Troja est'', which means "Ilium was, Troy is". Today, Troy is home to Rensselaer Polytechnic Institute, the oldest private engineering and technical university in the US, founded in 1824. It is also home to Emma Willard School, an all-girls high school started by Emma Willard, a women's education activist, who sought to create a school for girls equal to their male counterparts. Due to the confluence of major waterways and a geography that supported water power ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daily News (New York)
The New York ''Daily News'', officially titled the ''Daily News'', is an American newspaper based in Jersey City, NJ. It was founded in 1919 by Joseph Medill Patterson as the ''Illustrated Daily News''. It was the first U.S. daily printed in tabloid format. It reached its peak circulation in 1947, at 2.4 million copies a day. As of 2019 it was the eleventh-highest circulated newspaper in the United States. Today's ''Daily News'' is not connected to the earlier '' New York Daily News'', which shut down in 1906. The ''Daily News'' is owned by parent company Tribune Publishing. This company was acquired by Alden Global Capital, which operates its media properties through Digital First Media, in May 2021. After the Alden acquisition, alone among the newspapers acquired from Tribune Publishing, the ''Daily News'' property was spun off into a separate subsidiary called Daily News Enterprises. History ''Illustrated Daily News'' The ''Illustrated Daily News'' was founded by Patters ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
