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NY A10856
Bill
Status
7/24/2020
Primary Sponsor
John McDonald
Click for details
AI Summary
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Expands the definition of "project" for the Albany Parking Authority to include areas whose use is supported by parking or storing vehicles and facilities that facilitate economic development with increased parking supply or demand.
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Changes board member compensation from no compensation to up to $5,000 per member per year, while maintaining reimbursement for actual and necessary expenses.
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Increases the maximum principal amount of bonds the Albany Parking Authority is authorized to issue from $50 million to $75 million outstanding at any one time.
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Maintains the five-member board structure (chairman plus four members) appointed by the mayor with common council consent, serving staggered five-year terms after initial appointments.
Legislative Description
Relates to facilities utilized by the Albany parking authority, compensation of board members of the Albany parking authority, and increases the amount of bonds of the Albany parking authority authorized to be outstanding.
Last Action
referred to corporations, authorities and commissions
7/24/2020