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City and State Lawmakers Take Steps to Help Regional CNY Market Finances
The CNY Regional Market is seeking a new financial plan and structure, thanks to the efforts of city and state leaders.
Onondaga County lawmakers and state Rep. Bill Magnarelli are stepping in to help Regional Market get its finances under control. The help from lawmakers is a response to a state audit released last month that found the market was in a precarious financial state.
The Onondaga County Legislature voted this week to accept a $100,000 grant from Empire State Development to help fund the creation of a new financial plan. The county will also provide up to $225,000 in county cash. County Legislator Brian May said it’s an investment in the community’s future.
“The fact that Onondaga County is stepping up and being the catalyst for this whole initiative is a wonderful thing and should only be viewed that way,” May said.
And recently passed state legislation will change how the board is structured, adding more financial responsibility. Rep. Bill Magnarelli (D-Syracuse) sponsored legislation to create additional slots for city and county positions on the market authority board, among other accountability precautions.
“What we’re trying to do is bring more accountability to this entity, making sure we strengthen the board a little bit and move forward in trying to rebuild the market and bring it into the 21st century,” Magnarelli said.
Additional precautions include creating an updated Code of Ethics and requiring a full majority vote of the board to take action.
Magnarelli said he commends county lawmakers for intervening, but expects most of the funding to come from the state.