NYC Government Publication
Audit Report Of The Howard Hughes Corporation's Compliance With Its City Leases For The South Street Seaport Marketplace And Theatre (FK12-070A)
An audit report was filed on July 25, 2013 of the Howard Hughes Corporation's (HHC) compliance with its City Leases for the South Street Seaport Marketplace and Theatre. It was determined that HHC improperly calculated its fees because it undestated square footage upon which rents were based, thus it could not be determined how much was still due the City. HHC also misreported its income, and conducted business in the name of the South Street Seaport Merchants Association, Inc., which is considered defunct. EDC also failed to adequately monitor HHC's operations and compliance with lease terms. Recommendations were made to rectify these issues.
- Agency
- Subject
- Report type
- Audit Report
- Date published
- 2013-07-25