The Watertown Local Development Corporation voted this morning to hire two staffers who had been running the agency under a contract with the local IDA.
The LDC, known as the Watertown Trust, makes loans and is the economic development arm of the City.
The NYS Comptroller had ruled the employee lease arrangements were inappropriate uses of the State Retirement System and the Trust will now just employ its people as any private company would. I had proposed doing the same thing in 2009, when Comptroller DiNapoli first raised the issue.
The hirings take effect August 1st.