Requires return of financial assistance for projects with material shortfalls or violations; prohibits funds for projects already in development.
This bill amends the general municipal law to mandate the return of all or part of financial assistance for projects with material shortfalls in job creation or violations of project agreements. It also prohibits the use of funds, financial incentives, subsidies, or tax exemptions for projects already in development. The bill defines "in development" as a project where construction has commenced and all required permits have been issued.
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