Expands the law to include the preservation of regionally significant projects with respect to agencies drawing on funds for new building projects.

This bill amends the general municipal law to expand the criteria for preservation of regionally significant projects. It allows agencies to provide financial assistance for projects that attract a significant number of visitors from outside the economic development region, provided an independent third-party analysis shows more benefits than costs. The chief executive officer of the city, town, or village where the project is located must confirm the proposed action before financial assistance is provided.

Expands the law to include the preservation of regionally significant projects with respect to agencies drawing on funds for new building projects.

This bill amends the general municipal law to expand the criteria for preservation of regionally significant projects. It allows agencies to provide financial assistance for projects that attract a significant number of visitors from outside the economic development region, provided an independent third-party analysis shows more benefits than costs. The chief executive officer of the city, town, or village where the project is located must confirm the proposed action before financial assistance is provided.