From the NY Times:
Mr. Liu, a Democrat, has long criticized the Economic Development Corporation for not disclosing more information about its finances and contracts. And in July, the attorney general, Eric T. Schneiderman, found that the corporation, a nonprofit organization whose president is appointed by the mayor, improperly “played a behind-the-scenes role in the lobbying activities” of two local groups that promoted the mayor’s efforts to spur growth in Willets Point in Queens and Coney Island in Brooklyn.
But this time, Mr. Liu used the occasion of the corporation’s annual contract renewal, which must be approved by his office, as an opportunity to demand additional reforms. So in the $896 million contract, signed late Friday, the corporation pledged to make some financial information that is already in the public domain more accessible.
Among other pledges, the corporation, which offers financing, tax exemptions and other development programs, is expected to publish its capital and budget expenses on the comptroller’s Web site, Checkbook NYC. The corporation must also detail how companies that have received contracts from the corporation have lived up to job-creation promises — and how they may be penalized, if they have failed.
“After years of operating in the shadows, the E.D.C.’s books have finally been cracked open,” Mr. Liu said. “These new measures will ensure that E.D.C. focuses on its mission of boosting employment. If they still can’t get their act together, then they should close up shop and stop wasting taxpayer dollars.”