A total of 389 counties, cities, towns and villages are automatically eligible for assistance from the New York Financial Restructuring Board, a panel of state officials who can make fiscal recommendations and issue grants if they’re followed.
The board met for the first time at the state Capitol on Thursday. It includes state Comptroller Thomas DiNapoli and Attorney General Eric Schneiderman, along with a slate of appointees rolled out earlier this month by Gov. Andrew Cuomo.
The 10-member board, which can also serve as an alternative to binding arbitration in labor disputes, is chaired by Cuomo Budget Director Bob Megna.
The first meeting essentially acted as an introduction for the board’s members, with an overview of its processes and powers—not the least of which is the ability to issue up to $5 million in grants and loans if a municipality accepts the board’s recommendations.
According to the presentation—found in full below—there are eight counties, 44 cities, 149 towns and 188 villages eligible for the board’s help.
All told, there are 1,600 municipalities in New York.