A Local Law to amend the administrative code of the city of New York, in relation to the posting of community impact reports for city-subsidized economic development projects

Summary

This bill would require the New York City Economic Development Corporation to prepare and post community impact reports for economic development projects receiving $4 million or more in city subsidies. These reports would need to be submitted to the Mayor and Speaker and posted online at least 15 days before final project agreements are executed. The reports would include information on potential resident and business displacement, job creation estimates, housing impacts, and for projects in highly distressed areas, an additional analysis of job training opportunities, local investment, and wage impacts.

Official summary of legislation · NYC Council