It is clear in an audit released by State Comptroller Thomas P. DiNapoli Wednesday that Niagara Falls officials had a hand in the failure of two downtown development agreements that once held great promise.
The audit blames the city for failing to properly monitor a long-term lease for the Rainbow Centre mall and a $110 million development agreement with a private company, Niagara Falls Redevelopment.
DiNapoli's staff also found that the contracts did not contain adequate remedies to protect the city.
The options now for these two contracts, DiNapoli said, are limited.
The audit sets out a road map for Niagara Falls for future development agreements, and Mayor Paul A. Dyster said he intends to follow it. Read more about those recommendations in a story in Thursday's Buffalo News. Read the full comptroller's report, here.
What do you think of DiNapoli's audit? Where should the city go from here?
-- Denise Jewell Gee
tagged
government | Niagara Falls | redevelopment
