$85 million in bond offerings on the calendar for IDA’s June public hearing. The New York City Industrial Development Agency, a component of the Economic Development Corporation, held its monthly public hearing on June 7, 2007. Eighteen projects were on the notice of public hearing, including bond offerings totaling $85 million and seven straight-leases.

Among the 18 projects on the calendar was a straight-lease to News America Publishing Inc., a wholly owned subsidiary of Rupert Murdoch’s News Corp. The lease is for 75,000 sq.ft. of office space at the company’s current U.S. headquarters at 1211 Avenue of the Americas. News America Publishing Inc.’s parent company has approximately $62 billion in assets and total annual revenues of approximately $28 billion. On approval, the IDA action would extend the company’s exemption from City and state sales and use taxes in connection with renovating and equipping the building’s 12th and 13th floors. (read more…)