Mission Statement

Mission Statement and Performance Measurements

Hudson Yard Subwasy Interior View

Hudson Yard Subwasy Interior View

The Corporation's mission is to promote economic development and growth on the west side of mid-town Manhattan and conduct its activities in a cost-effective and efficient manner. The Corporation works diligently and cooperatively with the Hudson Yards Development Corporation, the Metropolitan Transportation Authority, and the City towards completion of the Project

The Corporation’s stakeholders are its bondholders, who have purchased the Corporation’s bonds and notes in reliance on the strong credit of the Corporation, and the City, which benefits from the economic development and growth on the west side of mid-town Manhattan.

Date Adopted: October 4, 2007 and amended on March 2, 2011, April 2, 2013, May 13, 2014 and April 27, 2018

List of Performance Goals:
  • Issue debt to support capital needs of the Project, subject to the conditions set forth in the Corporation’s indenture

  • Make timely payments of debt service and meet other contractual obligations

  • Utilize efficient and cost-effective borrowing methods, including lowering the cost of debt through refunding and other means
Measurements:
  • Has the Corporation issued sufficient debt to support the capital needs of the Project, subject to the conditions set forth in its indenture?

  • Has the Corporation paid debt service and fulfilled its other obligations related to its outstanding debt in a timely manner?

  • Has the Corporation issued debt at fair and reasonable rates relative to market conditions at the time of issuance?
Additional questions:
  • Have the board members acknowledged that they have read and understood the mission of the Corporation?

  • Who has the power to appoint the management of the Corporation?

  • If the Board appoints management, do you have a policy you follow when appointing the management of the Corporation?

  • Briefly describe the role of the Board and the role of management in the implementation of the mission.

  • Has the Board acknowledged that they have read and understood the responses to each of these questions?