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Glen Cove mayor pitches local development corporation

Glen Cove Mayor Reginald Spinello has proposed creating

(Credit: Barry Sloan)

Glen Cove Mayor Reginald Spinello has proposed creating a new local development corporation to issue bonds on behalf of nonprofits. The city would not be liable for the debt.

The City Council is expected to vote on the creation of the Glen Cove Local Economic Assistance Corporation at its Tuesday meeting. The corporation would be formed as a nonprofit with a five-member board, initially taken...

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