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Overview

ESD oversees the issuance of debt under the programs of both the UDC and the Job Development Authority. Under UDC, bonding programs include State Facilities and Equipment, Economic Development and Housing, and numerous other programs. The Job Development Authority issues both taxable and tax exempt bonds to finance its business lending programs.

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Disclaimer

All Information contained in this website is provided "as is" without warranty of any kind and, in particular, no representation or warranty, express or implied, is made or is to be inferred as to the accuracy, reliability, timeliness or completeness of any such information. The statistical and numerical information provided in this website is presented in an unaudited form. This website is to be used for informational purposes only and may not be relied upon for any other purpose. No representation is made that said statistical and numerical information is without errors or omissions which may be considered material. Under no circumstances shall the New York State Urban Development Corporation or the New York Job Development Authority, each doing business as the Empire State Development, their members, directors, officers, agents, employees, or counsel be liable to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any error or omission (through neglect or otherwise) or other circumstances involving the procurement, collection, compilation, interpretation, analysis, editing, transportation, transmittal, communication or delivery of any information, contained in this website, or (b) any direct, indirect, special, consequential or incidental damages whatsoever, even if the New York State Urban Development Corporation or the New York Job Development Authority, each doing business as the Empire State Development, their members, directors, officers, agents, employees, or counsel are advised in advance of the possibility of such damages resulting from the use of, or inability to use, any information contained in this website. This website does not purport to be comprehensive or definitive.

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Continuing Disclosure

Empire State Development has continuing disclosure policies designed to actively and fully comply with the Securities and Exchange Commission Rule 15c2-12 for debt issued by the New York State Urban Development Corporation ("UDC") and the New York Job Development Authority ("JDA").

For outstanding UDC appropriation backed bonds on or after the date of implementation of rule 15c12-12 and JDA state guaranteed bonds, the State undertakes, for the benefit of the bond holders, to provide to EMMA/MSRB, on an annual basis on or before 120 days after the end of each State fiscal year financial information and operating data concerning the State as outlined in the relevant official statements.

For outstanding JDA bond issues, the Authority has also agreed to provide, for the benefit of the bond holders, to EMMA/MSRB, on an annual basis on or before 180 days after the end of its fiscal year, the Authority's audited financial statements and certain additional financial information and operating data.

UDC, JDA, and the State, additionally, agree to provide to EMMA/MSRB notice of the occurrence of certain specified material events.

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