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Saturday 23 September 2017
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Monroe County Executive Cheryl Dinolfo Orders LDCs to Dissolve

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By Staff

 

dinolfo2Monroe County Executive Cheryl Dinolfo recently announced she has ordered three Local Development Corporations (LDCs) to dissolve in 90 days.

Diniolfo said it was one of the first actions she would take upon entering county office last year, in light of recent corruption charges attached to the LDC’s.

The New York State Supreme Court issued the order providing for the dissolution.

“I made a promise to every resident in Monroe County to operate as an ethical steward of taxpayer dollars, and I am proud to say that we have upheld our commitment to shut down three,” Dinolfo stated. “We could not have accomplished this alone; it took partners at all levels of government, and together we were able to deliver great cost savings to taxpayers. The dissolution of these three LDCs will save the county $3.4 million this year alone. Now that the Supreme Court has issued its order, it is time for all three LDC boards to meet to take the last steps required to give control of their operations to Monroe County. This important step in the process delivers on my promise to taxpayers that county government will run with transparency and efficiency.”

Dinolfo said the county is still working to resolve the dissolution of one remaining LDC.

County governments typically create LDCs to borrow money, and finance county infrastructure projects.

Two of the LDCs that will dissolve, created under former county executive Maggie Brooks’ administration, had recently been involved in a corruption and bid-rigging case.

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