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Date Posted: Monday, October26, 06:06:pm
Author: BJ
Subject: The CDA, who are they?

NYS Auth. Budget Office http://www.abo.state.ny.us/reports/compliancereviews/AlbanyCDAReviewReport.pdf
The CDA was authorized pursuant to Article 15-B, Title 54, of General Municipal
Law. The CDA Board is comprised of the Mayor of the City and six other City
officials: the chief fiscal officer, corporation counsel, president of the common
council, director of community development, city clerk, and the director of the
office of equal employment opportunity (which is currently vacant.) We found
that the CDA functions as a department of City government, although the CDA
has its own procurement and finance operations, as well as a long-term lease for
its office space. The CDA is staffed by City employees of the Department of
Development and Planning, but the CDA reimburses the City for these costs.
The CDA administers several different grant and loan programs totaling about $6
million annually. These programs are primarily funded with federal Community
Development Block Grant and HOME Investment Partnership entitlements, but
other programs are also funded through the State, or with funds available from
debt issued by the CDA. As of December 31, 2008, the CDA had over $2 million…

There is more to read, can anyone explain the above paragraph?

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