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Committee flags pilot extensions up to 71 years, questions oversight
Summary
Trustee materials showed many active 'pilot' agreements with extended terms; members noted several long extensions (some up to 71 years) and highlighted mismatches between boards' records and the comptroller's approval list.
Regina Newman walked the committee through an attachment listing active pilots that have been extended and identified several long terms. "Some of these terms are up to 71 years," Newman said, noting that many of the extended pilots come from housing boards and downtown development boards.
Members pressed staff on why extensions that appear to exceed typical statutory maximums are not reflected on the comptroller's public approval list. Committee members singled out Gibson Guitar and Capital Equities as examples listed at 25 years but not verified on the comptroller's site, prompting discussion of whether boards failed to submit extensions or whether records are inconsistent across agencies.
