Empire State Development

The meeting included project updates regarding community engagement and proposed programs. Discussions focused on the next steps for the memorandum of understanding, the public engagement process, and the environmental review stages. An executive session was held to discuss negotiations with the project developer, followed by an opportunity for public comments.

This document serves as a media advisory for a public meeting of the Directors of the Atlantic Yards Community Development Corporation. It outlines the meeting location and provides instructions for the public to RSVP, listen to the meeting via a live webcast, and submit written comments on agenda items prior to the session.

The directors authorized the adoption of a pre-qualified list of legal counsel and approved revised procurement guidelines. Furthermore, the meeting covered the financing of the LaGuardia Airport Terminal B improvement project, including the appointment of underwriters and financial advisors, authorization for a TERA hearing, and the inducement of the project for private activity financing. Additionally, contracts for legal services were approved for several law firms in connection with the LaGuardia Airport project.

The board meeting included the welcome of a new member, the presentation of a community engagement report, and an update on state budget funding for the platform construction project. Key discussions focused on upcoming milestones, the public review process for the project, and a review of the financial consultant's scope of work. Additionally, the board entered an executive session to discuss negotiations with the project developer regarding a memorandum of understanding.

The committee discussed the authorization for the sale and delivery of Series 2026A and 2026B senior lean revenue refunding bonds to refund previously issued series bonds. Key discussion points included the adoption of supplemental resolutions, the approval of forms for official statements and contracts of purchase, and the delegation of authority to officers for amending credit support agreements. The committee reviewed the performance of the hotel unit fee as a support mechanism for debt service and evaluated the market conditions for bond pricing.