Archives
Audit Report on the Economic Development Corporation’s Oversight of Turner Construction Company’s Contract for Facility and Construction Management Services
AUDIT REPORT IN BRIEF We performed an audit on the New York City Economic Development Corporation’s (Corporation) oversight of Turner Construction Company’s contract for facility and construction management services. The Corporation is a local development corporation responsible for carrying out... Read More
Feb 9, 2011
Audit Report On The Compliance Of Staten Island Minor League Holdings, LLC (Si Yankees) With Their Lease Agreement
AUDIT REPORT IN BRIEF This audit determined whether Staten Island Minor League Holdings, LLC (doing business as the Staten Island Yankees) paid the New York City Economic Development Corporation (EDC) the rent due in accordance with lease provisions, submitted required... Read More
Nov 9, 2010
Audit Report On The Operation And Management Of Piers 92 And 94 January 1, 2007-December 31, 2009
AUDIT REPORT IN BRIEF The City of New York is the owner of Piers 92 and 94 on the Hudson River between 52nd and 56th Streets. The properties include the surface area of the decks, the head house, the outdoor... Read More
Jun 30, 2010
Audit Report on the Financial and Operating Practices of the New York City Economic Development Corporation and Compliance with Its Master and Maritime Contracts July 1, 2005-June 30, 2008
AUDIT REPORT IN BRIEF The New York City Economic Development Corporation (EDC) is a local development corporation organized under §1411 of the Not-For-Profit Corporation Law of the State of New York. EDC’s primary activities consist of rendering a variety of... Read More
Apr 27, 2010
Audit Report On The Compliance Of P&O Ports North America, Inc. With Its Operating And Reimbursement Agreement
AUDIT REPORT IN BRIEF Since 1997, P&O Ports North America, Inc., (P&O) has been the exclusive operator of terminal management services for the Manhattan Cruise Terminal (MCT) on the Hudson River between 46th and 54th Streets. P&O operates under an... Read More
Dec 16, 2008
Audit Report on the Compliance of New York Skyports, Inc., with Its Lease Agreement
AUDIT REPORT IN BRIEF Since 1959, the City of New York has leased the use of approximately two acres of land along the East River between East 18th Street and East 23rd Street in Manhattan. The property is to be... Read More
Jun 30, 2008
Audit Report on the New York City Economic Development Corporation’s Compliance With It’s Lease Agreement for the Brooklyn Army Terminal
AUDIT REPORT IN BRIEF We performed an audit of the lease agreement between the City and the Economic Development Corporation (EDC) to mange the 97-acre Brooklyn Army Terminal (Terminal) in Sunset Park. According to the lease agreement, EDC is required... Read More
Jun 9, 2008
Audit Report on the Compliance of United Nations Development Corporation With Its Lease Agreement
Please download the PDF report.
May 29, 2008
Audit Report On The Compliance Of Astoria Studios Limited Partnership II With Its License Agreement
AUDIT REPORT IN BRIEF This audit determined whether Astoria Studio Limited Partnership II (Astoria) accurately reported its net income, paid all rent due, and complied with certain major non-revenue terms of the lease agreement. On September 1, 1982, the City... Read More
Jun 29, 2007
Audit Report On The Compliance Of Staten Island Minor League Holdings, L.L.C. (Staten Island Yankees) With Their Lease Agreement
AUDIT REPORT IN BRIEF On December 7, 2000, the Staten Island Minor League Holdings, LLC (doing business as the Staten Island Yankees) and the New York City Economic Development Corporation (EDC) entered a 20-year lease. The lease, which is monitored... Read More
Jun 18, 2007
Audit Report on the Compliance of Staten Island Minor League Holdings, L.L.C. (Staten Island Yankees) With Their Lease
AUDIT REPORT IN BRIEF In December 2000, the Staten Island Minor League Holdings, LLC (doing business as the Staten Island Yankees) and the New York City Economic Development Corporation (EDC) entered into a 20-year lease that commenced on May 1,... Read More
Apr 21, 2006
Audit of The Administration of Payments in Lieu of Taxes Under Economic Development Corporation And Industrial Development Agency Leases
Audit Report In Brief The audit determined whether “Payments in Lieu of Taxes” (i.e., PILOTs) were properly calculated, billed, accounted for, and reported. The audit also determined whether PILOTs that were collected were appropriately deposited, and whether PILOT disbursements were... Read More
Aug 2, 2005
Audit Report on the Payments of Commercial Rent Taxes by Economic Development Corporation Concessionaires
AUDIT REPORT IN BRIEF This audit determined whether the Economic Development Corporation (EDC) monitors City Commercial Rent Tax (CRT) payments by its concessionaires and whether it coordinates its efforts with those of the Department of Finance to identify those concessionaires... Read More
Nov 12, 2003
Audit Report on the Financial Practices of the Economic Development Corporation For “Other General Expenses”
AUDIT REPORT IN BRIEF The Economic Development Corporation (Corporation) is a local development corporation organized in accordance with the not-for-profit corporation law of the State of New York. The City and the Corporation have entered into two contracts under which... Read More
Oct 9, 2003
Audit Report on the Compliance of Staten Island Minor League Holdings, L.L.C., (Staten Island Yankees) with Their Lease Agreement
AUDIT REPORT IN BRIEF In December 2000, the Staten Island Minor League Holdings L.L.C., (Staten Island Yankees) and the New York City Economic Development Corporation (EDC) entered into a 20-year lease agreement that commenced on May 1, 2001. The agreement... Read More
Jun 27, 2003