Provides for the corporation to do studies in targeted areas of Buffalo as part of a retail revitalization program; requires final report to legislature no later than July 1, 2014.
TITLE OF BILL: An act to amend the New York state urban development corporation act, in relation to requiring the corporation to study the city of Buffalo for the purpose of fostering the growth of business and industry in New York state; and providing for the repeal of such provisions upon expiration thereof
PURPOSE: The purpose of the study is to examine and evaluate the prospects for retail redevelopment in the city of Buffalo. The commission shall develop a retail revitalization program including, choosing target industries, developing voluntary programs, and creating tax credits or other similar incentives.
SUMMARY OF PROVISIONS: The "Retail Redevelopment Commission" shall establish a pilot program, whose primary responsibility shall be to produce a study of the possible retail industries that would benefit residents and visitors to Buffalo. This pilot program study shall be conducted within the city of Buffalo and include a comprehensive market analysis study.
The commission shall report on current and projected trends in retail for the city, develop initiatives, programs and policies for the development and growth of retail businesses in Buffalo, as a model for other cities in the state. The study would require that the results be presented in a report to the legislature of its conclusions and recommendations, including legislative proposals necessary to implement the suggested programs, not later than July 1, 2012 and a final report on or before January 1, 2013.
JUSTIFICATION: With high rates of joblessness, homelessness, poverty and crime; many Buffalo residents struggle, as evidenced in the 2000 Census. The per capita income in the City of Buffalo is $14,991. This number is well below the national per capita income of $21,587. Twenty six percent of residents in the City of Buffalo live beneath the poverty level, as determined by the U.S. Department of Health and Human Services. Additionally, unemployment is on the rise at 10.4%, as reported by the New York State Department of Labor in December of 2003. Facing these grim statistics, Buffalo still has many advantages and is strategically oriented to build on its assets.
For much of its history, Buffalo's economy has been dominated by manufacturing, and when the jobs moved, so did the people. Over the past several decades, and especially today, the economic climate is changing. As manufacturing employment continues to decline, the growth of the area's 'a new economy,' defined by information technology, cross-sector partnerships, urban reinvestment and changing demographics, has begun soar.
As a city rich with culture and history, record commercial development In downtown Buffalo, a resurgence in downtown living, and serving as a Gate way to one of the Seven Wonders of the Natural World, Buffalo is at the cusp of a new era. With a new master plan for our schools, the newly designed award-winning airport, and innovative efforts to bring Buffalo and the region's economy to a new level, Buffalo is poised to attract progressive retail chains to the area. Therefore, it is imperative that the city devise a comprehensive strategy to rebuild its suffering retail industry to complement other positive developments. The retail industry is one of the most important sectors in the economy, providing over 15 per cent of all employment and including some of the largest and most admired companies worldwide. Retailing deals with a large variety of products - ranging from physical products, such as packaged goods, to intangible products, such as financial services or travel. The importance of retailing for consumers does not need much explanation: most people deal as consumers with retailers almost every day and for many people shopping plays an important part in their lives.
Through this Retail Redevelopment Commission, Buffalo becomes a strong, urban epicenter - as it once was in its hey day -- where citizens of the city and the surrounding region can live, work, entertain and have access to a progressive and diverse retail industry.
LEGISLATIVE HISTORY: Same As: A.976A Peoples-Stokes
FISCAL IMPLICATIONS: Compensation may be required for actual and necessary expenses to conduct this study.
EFFECTIVE DATE: This act shall take effect immediately and remain in effect until March 31, 2014.
STATE OF NEW YORK ________________________________________________________________________ 6933 IN SENATE April 13, 2012 ___________Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the New York state urban development corporation act, in relation to requiring the corporation to study the city of Buffalo for the purpose of fostering the growth of business and industry in New York state; and providing for the repeal of such provisions upon expi- ration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1 of chapter 174 of the laws of 1968, constituting the New York state urban development corporation act, is amended by adding a new section 16-v to read as follows: S 16-V. RETAIL REDEVELOPMENT IN THE CITY OF BUFFALO. 1. THE CORPO- RATION SHALL COMPLETE A STUDY ON THE PROSPECTS FOR RETAIL REDEVELOPMENT IN THE CITY OF BUFFALO. THROUGH A MARKET ANALYSIS STUDY, THE CORPO- RATION SHALL REPORT ON CURRENT AND PROJECTED TRENDS IN RETAIL FOR THE CITY. THE DEPARTMENT SHALL MAKE RECOMMENDATIONS FOR THE DEVELOPMENT OF INITIATIVES, PROGRAMS AND POLICIES FOR THE GROWTH OF RETAIL BUSINESSES IN BUFFALO, AS A MODEL FOR OTHER CITIES IN THE STATE. THE CORPORATION SHALL DEVELOP A RETAIL REVITALIZATION PROPOSAL INCLUDING, BUT NOT LIMIT- ED, TO THE FOLLOWING: (A) CHOOSING TARGET INDUSTRIES WHICH ARE UNDERREPRESENTED OR WOULD HAVE A POSITIVE EFFECT ON BUFFALO, ITS RESIDENTS AND TOURISTS, AND WOULD BE BENEFICIAL TO THE GROWTH AND FINANCIAL WELL BEING OF THE CITY. (B) DEVELOPING VOLUNTARY PROGRAMS WITH NEW YORK STATE COLLEGES AND UNIVERSITIES TO TRAIN STUDENTS TO WORK IN THE SELECTED TARGET INDUS- TRIES, INCLUDING SPECIFIC EDUCATION IN STARTING AND RUNNING A RETAIL BUSINESS. (C) CREATING TAX CREDITS OR OTHER SIMILAR INCENTIVES FOR RETAILERS WHO ARE WILLING TO OPEN UNDER-REPRESENTED OR FUTURE TREND RETAIL BUSINESSES OR INDUSTRIES IN THE CITY OF BUFFALO; AND WHO ARE WILLING TO HIRE STUDENTS FROM THE VOLUNTARY PROGRAMS INCLUDING FULL-TIME, PART-TIME AND SUMMER EMPLOYMENT.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04699-03-2 S. 6933 2
2. THE CORPORATION SHALL MAKE A PRELIMINARY REPORT TO THE LEGISLATURE OF ITS CONCLUSIONS AND RECOMMENDATIONS, INCLUDING LEGISLATIVE PROPOSALS NECESSARY TO IMPLEMENT THE SUGGESTED PROGRAMS, NOT LATER THAN JULY 1, 2013 AND A FINAL REPORT ON OR BEFORE JANUARY 1, 2014. S 2. This act shall take effect immediately and shall remain in effect until March 31, 2014, when upon such date the provisions of this act shall expire and be deemed repealed.