Bill > A07281

This bill establishes the City of Buffalo Parking Authority, a new public benefit corporation with specific powers and responsibilities for managing parking infrastructure in Buffalo. The authority will consist of five members appointed by the Buffalo mayor, with staggered initial terms and subsequent five-year terms. Its primary purpose is to construct, operate, and maintain public parking projects in the city. The bill grants the authority broad powers, including acquiring and developing real property, issuing bonds up to $75 million, entering into contracts, and setting parking fees. The authority will have significant autonomy but will be subject to oversight, including annual financial audits and a strict code of ethics for its employees. The authority cannot begin operations until its members are granted certain legal protections, and it is designed to be financially self-sustaining. Importantly, the bonds and obligations of the authority will not be considered debt of New York State or the City of Buffalo, and the authority will be exempt from most taxes. When all bonds are paid and obligations are met, the authority will be dissolved and its assets will transfer to the City of Buffalo. The bill is intended to provide a dedicated, flexible entity for managing the city's parking infrastructure and related services.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A7281