Albany ups power play; State, Legislature, NYRA announce mgmt. deal

[parsixfarms]

A whole lot of government CYA going on. Here's the section from the RWB's interim report (pp. 17-18), as it pertains to the oversight provided by the Franchise Oversight Board:

The FOB has five part-time members serving without compensation. The FOB has no fulltime staff but has a Division of Budget employee serving as its secretary. As a practical matter, the FOB operates as a global overseer with a limited budget that relies heavily on NYRA’s representations, supported by NYRA’s employees, consultants and auditors. Realistically, with its limited resources, the FOB was in no position to review or enforce compliance with thedetailed takeout provisions of Chapter 115.