Updates from the Committee on Corporations, Authorities and Commissions

Subpoenas Issued to Fulton County Economic Development Corporations
June 18, 2010

Assemblyman Richard Brodsky (D-Westchester), Chairman of the Committee on Corporations, Authorities and Commissions today announced the issuance of 10 subpoenas to the Fulton County Economic Development Corporation and related entities and persons.

These subpoenas call for information previously requested and withheld by the corporations, as part of the committee’s ongoing investigation into state public authorities, specifically large bonuses paid by the corporations to certain employees, the activities of the corporation, and the adequacy of current laws.

Assemblyman Brodsky stated, “The combination of apparently excessive and secretive compensation and stonewalling by these three corporations and their officers has made these subpoenas necessary. The truth will come out so that we may finally decide what legislative remedies are required. In the end we will pursue reform of state authorities even as the new Public Authorities Reform Act begins cleaning up this system.”