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ORIGINS Public Benefit Corporation s in New York State likely have origins in mercantile capitalism. A shared tradition of English Common Law and Dutch law may partly explain their origins. INCORPORATION Public benefit corporations get charters from New York State and are usually designed to perform a specific, narrow function in the public interest. They are overseen by the Public Authorities Control Board . TYPES OF PUBLIC AUTHORITIES The New York State Comptroller's Office lists four types of public benefit corporations and authorities:
CLASS A PUBLIC BENEFIT CORPORATIONS IN THE NEW YORK CITY METROPOLITAN AREA Below are authorities operating in and around the New York City Metropolitan Area . Battery Park City Authority Fully titled the Hugh L. Carey Battery Park City Authority {Link without Title} , according to its official web site, the authority is: :a New York State Public Benefit Corporation whose mission is to plan, create, co-ordinate and maintain a balanced community of commercial, residential, retail, and park space within its designated 92-acre site on the lower west side of Manhattan. Battery Park is located at the bottom tip of Manhattan . Lower Manhattan Development Corporation The Lower Manhattan Development Corporation (LMDC) was formed after the September 11 attacks to plan the reconstruction of Lower Manhattan. It was founded by 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 City . The Development Corporation is a subsidiary of the Empire State Development Corporation . Long Island Power Authority The Long Island Power Authority or LIPA {Link without Title} , a municipal subdivision of the State of New York, was created under the Long Island Power Act of 1985 to acquire the Long Island Lighting Company (LILCO)'s assets and securities. A second Long Island Power Authority (LIPA), a wholly owned subsidiary of the first, acquired LILCO's transmission and distribution system in June 1998 . Metropolitan Transportation Authority The in the New York Metropolitan Area (this includes the New York Subway and public bus systems, as well as MTA Metro-North Railroad and the Long Island Rail Road ). The MTA includes the following subsidiaries:
Overcoat Development Corporation The Overcoat Development Corporation was founded in the 1980s to lure a men's outerwear company to New York City. It continues to exist today due to a favorable real Estate lease it got. Roosevelt Island Operating Corporation The , a small strip of land in the East River , part of the borough of Manhattan . CLASS A PUBLIC BENEFIT CORPORATIONS IN GREATER NEW YORK STATE Public benefit corporations outside of New York City's metropolitan area, or serving the entire state, are listed below. Agriculture And New York State Horse Breeding Development Fund The Agriculture And New York State Horse Breeding Development Fund serves Equine interests in New York State and provides education concerning certain agricultural development. A 2004 audit {Link without Title} of the fund found problems with its management. Dormitory Authority of the State of New York According to its web site, the Dormitory Authority Of The State Of New York {Link without Title} "provides financing and construction services to public and private universities, not-for-profit healthcare facilities and other institutions which serve the public good." Empire State Development Corporation The Empire State Development Corporation , also known as the Urban Development Corporation, maintains various programs and subsidiaries to encourage economic development in New York State. New York State Thruway Authority The . New York State Canal Corporation The , Cayuga-Seneca Canal, Oswego Canal and Champlain Canal . It is also involved with the development and maintenance of the New York State Canalway Trail and with the general development and promotion of the Erie Canal Corridor as both a tourist attraction and a working waterway. Capital District Transportation Authority The , Schenectady , and Rensselaer counties plus part of Saratoga). The function of CDTA is to operate public transportation as well as to operate Albany International Airport and the Amtrak stations in the service area (Albany-Rennselaer, Schenectady, and Saratoga Springs). It includes the following subsidies:
Central New York Regional Transportation Authority The . This includes regional bus service and OnTrack commuter rail. Syracuse is the smallest city in the United States to have a local commuter rail line. New York State Bridge Authority The . Olympic Regional Development Authority The area for the 1980 Olympic games. Power Authority of the State of New York The Power Authority Of The State Of New York {Link without Title} provides electricity throughout New York State. Rochester-Genesee Regional Transportation Authority The Rochester-Genesee Regional Transportation Authority {Link without Title} consists of numerous subsidiaries, including:
United Nations Development Corporation The with its real estate and development needs. CLASS B PUBLIC AUTHORITIES CLASS C PUBLIC AUTHORITIES Class C public authorities have local jurisdiction and very few are of significance outside of economic development within towns, villages, and small cities. CLASS D PUBLIC AUTHORITIES Class D public authorities have interstate and international jurisdiction.
CONTROVERSY Some of these corporations, particularly the "authorities," are criticized as being wasteful or overly secretive. There are literally hundreds, more than 640 as of 2004 according to a '' New York Times '' Editorial . Some attempts at reform have been made. According to the editorial: : York State Comptroller Alan Hevesi has offered a comprehensive bill that incorporates some of the best ideas in other legislation circulating in Albany reform the authorities . It would also create a commission to assess whether all 640 authorities set up over the last 80 years still need to exist. The Overcoat Protection Authority, for one, would seem to have had its day. [http://www.nytimes.com/2004/02/28/opinion/28SAT4.html?ex=1132808400&en=6ccb632081463bb2&ei=5070] The Overcoat Protection Authority actually isn't the correct name of the entity in question. The correct name of the entity the ''Times'' was speaking of is the Overcoat Development Corporation {Link without Title} , which was designed to lure a clothing manufacturer to New York from Indiana in the 1980s . (Berry, Dan. "The Cold Facts Of Officialdom, Albany-Style," The New York Times, March 20, 2004) Lack of oversight is a major concern with New York's authorities. According to the Associated Press : : Out of 643 state and local authorities in New York, only 11 need approval by the Public Authorities Control Board before selling bonds. The comptroller's office gets financial reports from just 53. (Johnson, Mark. "Hevesi proposes reforms for state authorities," Associated Press, February 24 , 2004 ) The New York State Comptroller's Office, headed by Alan Hevesi , became concerned about the debt public authorities were generating in 2004 : : Most public authorities have the ability to borrow funds by issuing debt. Total public authority debt reached more than $120.4 billion in 2004, and continues to grow. $37 billion of this debt is State-supported, accounting for more than 90 percent of total outstanding State-supported debt. {Link without Title} Recently, the state has been trying to phase out public benefit corporations and authorities it considers unnecessary. SEE ALSO
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