Stringer, N.Y. City EDC in Disclosure Agreement

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New York City Comptroller Scott Stringer unveiled an agreement with the city's Economic Development Corp. to provide vendor names, contract amounts and payments to prime vendors contracted by NYCEDC to work on taxpayer-funded projects.

Stringer also announced a new system-wide "Create Alert" function that allows users to receive e-mails if additional payments are paid to specific vendors or if payments are made on a specific contract.

"This is a landmark moment for transparency in City government that will benefit all stakeholders," Stringer said in a statement. "With this data, taxpayers and policymakers alike will be better equipped to assess the role of economic development spending to ensure that it is being used to strengthen our workforce and create new jobs."

The EDC is a not-for-profit, mayor-controlled public benefit corporation that operates under an annual contract with the city. The new NYCEDC Agency view in Checkbook NYC provides vendor information for $1.015 billion in spending across 260 separate corporation contracts valued at $1.5 billion and registered with the comptroller in fiscal 2013, 2014, and 2015.

Under the agreement, EDC has committed to update vendor information for all projects contracted with the city.

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