Assemblymember Dennis H. Gabryszak (D-Cheektowaga) announced that the final budget agreement will establish the Western New York Power Proceeds Allocation Board (A.9058-D). This legislation will fully implement the Western New York Economic Development Benefits Fund to improve infrastructure and revitalize Western New York. The Assembly is expected to take this legislation up this week. Assemblyman Gabryszak previously had authored legislation to establish the Western New York Power Proceeds Allocation Board (A.7095).
“By including this critical measure in the final budget, we can help create good-paying jobs for hardworking Western New York families and get our region on the road toward recovery,” Assemblymember Gabryszak said. “This will also help attract more businesses to our region, providing our communities with a much-needed economic boost.”
The creation of the allocation board would allow for full implementation of a 2010 law authored by Assemblymember Gabryszak that allows businesses located within 30 miles of the Niagara Project to take advantage of power that is currently being returned to the New York Power Authority (NYPA) (Ch. 436 of 2010).
“By establishing this allocation board, we will be able to oversee the transfer of unused NYPA funds and make sure they go directly toward commonsense initiatives designed to create jobs and strengthen our local economy,” Assemblymember Gabryszak said.
In addition, NYPA would be required to cooperate in the allocation process for all economic development funds and to make available a full accounting report of power sales to ensure transparency and accountability within the Western New York Economic Development Benefits Fund, Assemblymember Gabryszak added.
“This measure is crucial to Western New York’s future success,” said Assemblymember Gabryszak. “I will continue fighting to make sure Western New York can invest in initiatives to help grow our economy, get our families back to work and create a more sustainable environment in our area.”