2003 Green Book
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URBAN DEVELOPMENT CORPORATION

		Adjusted Appropriation 2002-03	Executive Request 2003-04	Legislative Appropriation 2003-04	Change
AID TO LOCALITIES
	General Fund	74,869,100	75,362,100	6,477,100	(68,885,000)
Total for AID TO LOCALITIES		74,869,100	75,362,100	6,477,100	(68,885,000)
CAPITAL PROJECTS
	Capital Projects Fund	14,300,000	0	0	0
Total for CAPITAL PROJECTS		14,300,000	0	0	0

LEGISLATIVE ACTION
The Legislature provides appropriations totaling $6,477,100, reflecting a decrease of $68,885,000 from the Executive proposal for State Fiscal Year (SFY) 2003-04. The reduction reflects the deferral of $68,885,000 in appropriation authority for the Jobs Now Program, the Empire State Economic Development Fund (EDF), the Urban and Community Development Program (UCDP), and Military Base Retention Efforts.
Legislative Changes
The Legislature provides funding for Military Bases as follows:
Griffiss Air Force Base Redevelopment Niagara Falls Air Force Base Plattsburgh Air Force Base Improvements Seneca Army Depot Local Development Authority $1,400,000 $100,000 $1,400,000 $100,000
In addition, the Legislature concurs with the Executive request to provide $3,473,000 for the Minority and Women-Owned Business Development and Lending Program and authorizes the following suballocations: up to $1,000,000 for the Community Development Financial Institutions Program; $1,300,000 for the Entrepreneurial Assistance Program; and up to $525,000 for linked deposits in federal and state-chartered credit unions for loans to minority and women-owned businesses.
Article VII
The Legislature accepts the Executive’s proposal to authorize the New York State Dormitory Authority to provide $1,200,000 in support of the operations of the Cornell Theory Center supercomputer.
The Legislature denies the Executive’s proposal to make the Urban Development Corporation (UDC) loan powers permanent, however, the Legislature authorizes an extension of these loan powers for one year until July, 1 2004.
The Legislature requires the Urban Development Corporation to issue quarterly reports to the Temporary President of the Senate and the Speaker of the Assembly on all economic development programs administered during the fiscal year.
The Legislature provides for the continuation of statutory authority governing the administration of the Empire State Economic Development Fund (EDF).
The Legislature provides language to govern the interchange of the Urban Development Corporation corporate funds.

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